PetroVietnam’s PVCFC plans $122.6m Dec float

Fertilizer loading at the PVCFC factory

Another one of the Vietnam National Oil and Gas Group (PVN) subsidiary is expected to launch its initial public offering (IPO) in December. The divestment in PetroVietnam Camau Fertilizer Ltd (PVCFC)  is part of the group’s ambitious restructuring plan to make it more competitive in the market.

PVCFC will be auctioning 49 per cent stake in the company on December 11 at the Ho Chi Minh Stock Exchange (HOSE) and expects to raise VND 2.6 trillion ($122.6 million) from this IPO.

The company that is involved in production, sales and transportation of fertilizers and nitrogen compounds, is offering 259,406,000 shares to the public and the strategic investors.  Par value per share is VND 10,000 but the starting price at the auction is expected to be VND 12,000 per share,

According to HOSE, the company is planning to offer 1,503,400 shares (0.28 per cent stake) to the PVCFC employees as preferred shares. The remaining 257,902,600 shares will be equally distributed for public and strategic investors. The remaining 51 per cent of the company’s equity stake will be with the Government.

PVCFC is a subsidiary under the PVN group, which established in September 2011 and has a $900 million fertilizer factory in Ca Mau city.

PVCFC has charter capital of VND 5.3 trillion ($248 million) and clocked VND 4.2 trillion ($197 million) as revenue for the first nine month of 2014, from selling over 590,000 tonnes of urea out of 800,000 tonnes produced annually.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.