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Banking & Finance

SHF to divest from PetroVietnam Securities

Released at: 15:28, 10/08/2015

SHF to divest from PetroVietnam Securities

Saigon - Hanoi Fund Management to sell entire holding of 1,159,000 shares.

by Hung Nguyen

The Saigon - Hanoi Fund Management JSC (SHF) has registered to divest all of its shares in PetroVietnam Securities Incorporated (PSI). Over the last five years it had acquired 1,159,000 shares in PSI, for a 1.94 per cent stake.

The transaction will be conducted from August 12 to September 10 via negotiations and matching order trading.

PSI shares are now trading around VND8,000 ($0.37), making the value of the transaction VND9.3 billion ($426,312).

The second quarter financial report of PSI put revenue at VND18 billion ($825,139), a fall of around 11 per cent compared to the second quarter of last year. Accumulated losses in the second quarter were VND7.3 billion ($334,632).

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