Petrovietnam divested all of more than 24.9 million Petrosetco shares, price 21.3% higher than the market

Petrovietnam will offer 24,916,934 PET shares at a starting price of VND36,500/share. The auction will take place on the Ho Chi Minh City Stock Exchange at 9:00 a.m. on December 11, 2025.

PET shares showed signs of being sold again since August 19. Source: FireAnt

In addition, after a recent increase, from August 19 to November 7, PET shares are turning down 27.1%, from VND 41,300 to VND 30,100/share.

Thus, the starting price that Petrovietnam is divesting from Petrosetco is 21.3% higher than the market price.

As of September 30, 2025, Petrosetco recorded a major shareholder, Petrovietnam, owning more than 24.9 million PET shares, equivalent to 23.21% of charter capital, and the remaining 76.79% of charter capital belongs to other shareholders.

It can be seen that Petrovietnam wants to divest all shares it owns at Petrosetco.

Previously, Petrosetco also continuously recorded stock selling moves by major shareholders and company insiders.

Specifically, on August 21, HD Fund Management Joint Stock Company sold 754,800 PET shares to reduce ownership from 14.27% to 13.56% of charter capital; from August 11 to August 18, Mr. Vu Tien Duong, member of the Board of Directors and General Director, sold 399,250 shares to reduce ownership from 0.37% to 0% of charter capital; from August 11 to August 18, Mr. Ho Hoang Nguyen Vu, Deputy General Director, sold all 78,020 shares to reduce ownership from 0.07% to 0% of charter capital; on August 11, Mr. Ho Minh Viet, member of the Board of Directors, sold all 209,100 shares to reduce ownership from 0.2% to 0% of charter capital...

According to research, Petrosetco was established in 1996 and listed its shares on the Ho Chi Minh City Stock Exchange in 2007. The company operates mainly in the fields of electronic equipment distribution services, supply and logistics services, and lifestyle services...

Regarding business activities, in the first 9 months of 2025, Petrosetco recorded revenue of VND 14,216.2 billion, a slight decrease of 1.6% over the same period, profit after tax reached VND 247.52 billion, an increase of 56.1% over the same period last year. In which, gross profit margin improved from 4.5% to 4.7%.

During the period, despite the decrease in revenue, thanks to the improvement in gross profit margin, Petrosetco still recorded a slight increase in gross profit of 2.9% over the same period, equivalent to an increase of VND 18.79 billion, to VND 671.16 billion.

In addition, during the same period, financial revenue increased by 136.8% over the same period, equivalent to an increase of VND 188.31 billion, to VND 325.99 billion; financial expenses increased by 66.8% over the same period, equivalent to an increase of VND 82.47 billion, to VND 205.91 billion; sales and administrative expenses increased slightly by 2.2%, equivalent to an increase of VND 10.34 billion, to VND 474.2 billion, and other activities fluctuated insignificantly.

Thus, in the first 9 months of the year, although gross profit increased slightly, net profit increased sharply, mainly due to a sudden increase in financial revenue.

Notably, in the financial revenue structure, trading securities interest amounted to VND 112.3 billion compared to the same period of only VND 0.48 billion.

In 2025, Petrosetco plans to have revenue of VND 20,500 billion, with expected after-tax profit of VND 244 billion.

Thus, ending the first 9 months of 2025 with after-tax profit reaching VND 247.52 billion, Petrosetco has completed 101.4% of the profit plan of VND 244 billion in the 2025 fiscal year.

In fact, although net profit increased sharply in 9 months, cash flow was in deficit. Of which, operating cash flow was negative by VND 1,323 billion compared to the same period of negative VND 579.4 billion; investment cash flow was negative VND 818.6 billion; and financial cash flow was positive VND 1,330.1 billion, mainly due to increased borrowing to offset the operating cash flow deficit.

In terms of asset size, as of September 30, 2025, Petrosetco's total assets increased by 15.4% compared to the beginning of the year, equivalent to an increase of VND 1,569.7 billion, to VND 11,734.7 billion. Of which, the main assets recorded VND 5,015.4 billion in cash and short-term financial investments, accounting for 42.7% of total assets; VND 3,909 billion in short-term receivables, accounting for 33.3% of total assets; VND 1,417.5 billion in inventories, accounting for 12.1% of total assets and other items accounting for an insignificant proportion.

During the period, negative cash flow was mainly related to short-term receivables, which increased by 63.8% compared to the beginning of the year, equivalent to an increase of VND 1,521.9 billion, to VND 3,909 billion.

Notably, in terms of capital, as of September 30, 2025, Petrosetco's total short-term debt increased by 27.2% compared to the beginning of the year, equivalent to an increase of VND 1,357 billion, to VND 6,337.4 billion and equal to 246% of total equity (at the beginning of the year, outstanding debt was VND 4,980.4 billion, equal to 213% of total equity).

Source: https://baodautu.vn/petrovietnam-thoai-toan-bo-hon-249-trieu-co-phieu-petrosetco-gia-cao-hon-213-thi-truong-d430814.html