Southern Gas Trading JSC (PGS) announced an extraordinary profit from the divestment of its stake in Low-Pressure Gas Distribution JSC (PGD).
PGS transferred its entire holding of 5.61 million PGD shares and 5.61 million rights to purchase shares (4 rights for 1 new share, equivalent to more than 1.4 million shares) to its parent company, PetroVietnam Gas JSC (PV Gas).
The transfer price was VND 31,000 per share and VND 21,000 per purchase right.
The total transaction value reached VND 203.36 billion. After deducting the initial investment cost of VND 56.1 billion and VND 0.28 billion in transfer fees, PGS recorded VND 146.98 billion in pre-tax profit.
After a 25% corporate income tax, PGS posted VND 110.23 billion in net profit from the divestment of PGD shares.
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