Major shareholder buys further PGD shares of PV Gas D

The major shareholder Tokyo Gas Asia Pte. Ltd (Tokyo Gas Asia) in July bought 70,000 more shares of PetroVietnam Low Pressure Gas Distribution JSC (PV Gas D with the stock code of PGD) to raise the ownership of the 24.9 per cent stake to the 24.978 per cent stake in the latter. 

Since August in 2017, Tokyo Gas Asia which is the branch of Tokyo Gas has become the second-largest shareholder of PV Gas D. Besides buying shares, Tokyo Gas Asia has signed a co-operative agreement with PV Gas D. Under the agreement, Tokyo Gas Asia has introduced its energy saving technologies to help improve efficiency in PV Gas D’s trade and distribution of low pressure gas. 
PV Gas D’s current three large shareholders are Petrovietnam Gas Joint Stock Corporation with the ownership of the 50.5 per cent stake; Tokyo Gas Asia with the ownership of the 24.978 per cent stake; and Saibu Gas Co., Ltd with the ownership of the 21 per cent stake and other shareholders with the ownership of the nearly 3.5 per cent stake.    

In the first six months of this year, PV Gas D acquired VND4.504 trillion in net revenue, an increase of 27.5 per cent compared to last year and finished more than 54 per cent of this year’s plan. The pre-tax profit reached VND127.4 billion, 114 per cent higher than the same period of last year. The after-tax profit reached more than VND98 billion, increasing 112 per cent against the profit acquired in last year’s first half and completed 48 per cent of this whole year’s profit target.    
 

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