#PLX #Petrolimex #CoPhieuPLX #ChungKhan #DauKhi #XangDau #NangLuong #DauTuGiaTri #HSX #TaiChinh
If PLX is truly entering the biggest revaluation cycle since listing, will today's price range around 39,000 VND be considered a "historic bargain" in the next few years?
Information that the Board of Directors of Petrolimex has just approved the policy of selling all 23,285,846 treasury shares is creating a lot of debate in the market. Many investors are concerned that this is new supply pressure. However, if we look deeper, this could be an important link to help Petrolimex solve a legal problem that has existed for many years and open up opportunities to revalue the business.
KEY INFORMATION
Value Indicator
Treasury shares are expected to sell 23,285,846 shares
Charter capital ratio 1.83%
Recent market price 39,150 VND/share
Estimated revenue value is more than 900 billion VND
Current free-float rate About 9.42%
Expected after-sale rate: About 11.05%
WHAT THE MARKET IS IGNORING
PLX is currently in a situation where it no longer fully meets the conditions of a public company because the ratio of freely circulating shares is lower than the minimum level as prescribed by the Securities Law.
Although there are more than 43,000 shareholders, the group of non-major shareholders only holds about 9.4% of the voting shares. This level is lower than the required 10% threshold.
Selling treasury shares is not simply raising capital.
The larger goal is to bring the public ownership rate back above the prescribed threshold to maintain tas a public company and listed on HOSE.
WHY THIS COULD BE A POSITIVE SIGNAL
1. Increase free-float
As the number of freely circulating shares increases, PLX has the opportunity to attract more large investment funds and institutional cash flow.
2. Improve liquidity
Trading volume can increase significantly when there are more shares actually circulating on the market.
3. Collect additional capital
If sold around the current price range, Petrolimex could earn more than 900 billion VND to supplement financial resources for future energy and infrastructure projects.
COMPARE VALUATION
Estimated P/B period
Previous sales of treasury shares About 2.5 times
Current PLX About 1.9 times
It is worth noting that Petrolimex still owns the largest petroleum distribution network in Vietnam with thousands of stores, warehouses, logistics systems and supply chains throughout the country.
Meanwhile, the current valuation is significantly lower than the history of the business.
THE STORY IS NOT JUST A STOCK
Unlike many conventional businesses, Petrolimex operates in a field directly linked to national energy security.
Electricity may be lacking.
Gas may be lacking.
But a modern economy cannot function without fuel.
That is why leading energy companies in the world are often given higher valuations by the market during periods of economic or geopolitical instability.
Petrolimex is still the leading enterprise in Vietnam's petroleum retail market and plays a special role in the marketnational energy system.
SCENARIOS INVESTORS ARE WATCHING
If the sale of treasury shares is completed successfully
✅ Solve legal problems of public companies
✅ Increase free-float
✅ Increase liquidity
✅ Supplement long-term capital
✅ Create favorable conditions for the re-pricing process
Of course this does not mean the stock price will increase immediately. But for many long-term investors, this could be a signal that a new chapter is beginning for Petrolimex.
#PLX #Petrolimex #XangDau #CoPhieuNangLuong #ChungKhanVietNam #DauTuGiaTri #AnNinhNangLuong #TaiChinh #HSX #DauKhi
