<article>Vietnam’s second largest petrol dealer <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/pv-oil/">PV Oil</a> said its valuation could reach $520 million upon a public listing in the first quarter of 2018.</article>

Vietnam’s second largest petrol dealer <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/pv-oil/">PV Oil</a> said its valuation could reach $520 million upon a public listing in the first quarter of 2018.
The estimation is given by Ho Chi Minh Securities Company (HSC), PV Oil said in a statement.
In June 2017, the company announced a corporate value of VND10.34 trillion ($456 million). PV Oil, a subsidiary of energy titan <a class="tinymce-colortext" style="color: #000080;" href="https://www.dealstreetasia.com/tag/petrovietnam/">PetroVietnam</a>, said it will double the initial public offer (IPO) from the earlier planned 10 per cent shares to 20 per cent.
The IPO is slated for completion by the end of this year, and the petroleum retailer will also sell 44.7 per cent of its equity to strategic investors.
“PV Oil is negotiating with potential investors and expects to release the list of strategic investors in November,” it said.
Meanwhile, Bao Viet Securities Company gives a much higher expectation for PV Oil’s value, estimating a VND22,250 stock price.
With a total number of 970 million PV Oil shares, this means Bao Viet Securities indicates a sizeable difference from HSC calculation, valuing the business at $950 million.
PV Oil, which is running nearly 490 retail stations nationwide, hopes to ramp up its market share from 22 per cent, the second largest after listed Petrolimex, to 30-35 per cent next year.
Its market share could potentially rise through acquisitions, said Bao Viet Securities. “Meanwhile, the leading player, Petrolimex, will not be able to consolidate through M&amp;A because of the country’s regulations on competition, which prohibits M&amp;A activity that creates an oil and gas firm with more than 50 per cent market share,” the report said.
Petrolimex’s market share has already reached 48-50 per cent.
The firm was listed in April 2017. Its stock price jumped about 42 per cent during the first two months since debut but has remained on a plateau for the past three months. Trading at VND64,000 apiece, Petrolimex is valued at approximately $3.3 billion.
Also read:
<a href="https://www.dealstreetasia.com/stories/vietnam-pv-oil-extends-strategic-share-offer-50-delays-june-ipo-73690/">Vietnam: PV Oil extends strategic share offer to 50%, delays June IPO</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietnam-petrolimex-shares-jump-more-than-13-on-debut-70872/">Vietnam: Petrolimex shares jump more than 13% on debut</a>

Vietnam’s second largest petrol dealer PV Oil said its valuation could reach $520 million upon a public listing in the first quarter of 2018.

Vietnam: PV Oil valuation could touch $520m upon Q1 2018 listing

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Vietnam: PV Oil valuation could touch $520m upon Q1 2018 listing

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