PVA: Sells 5Mln New Shares to PVX: BOD Resolution

The board agreed that PetroVietnam Construction Joint Stock Corporation (PVX) and Petrovietnam – Idico Long Son Industrial Park Investment JSC. (PXL) refused to buy undistributed shares in the issuance to existing shareholders and employees.

The BOD has passed the list of 920 individual investors who buy 3,434,400 undistributed shares in the issuance to existing shareholders and employees.

In addition, the Board of Directors has also passed the use of VND123.5 billion proceeds from the new share issuance to pay borrowings to institutions and individuals in order to buy shares of PVIT; to invest in real estate projects and to add to its working capital.