Petrolimex extends deadline for asset sales in Laos until mid-2026

HANOI(VNA) -- Petrolimex has announced an extension of the timeline for its planned asset sale of its fully owned subsidiary Petrolimex Laos until June 30, 2026.
The decision was made by the company’s Board of Directors, who also confirmed that all other terms of the asset sale will remain unchanged, adhering to the previously es-tablished regulations outlined in Decision No. 940/PLX-QĐ-HĐQT dated September 12.
Petrolimex will provide supplementary information about the sale through various official communication channels, as stipulated in the asset sale regulations regarding its in-vestment in Petrolimex Laos.
The Board has designated Tran Tuan Linh, a board member, to lead the research and development team tasked with strategising the divestment of the group’s investment in Petrolimex Laos, succeeding Luu Van Tuyen.
Petrolimex Laos is located in Sikhottabong district, Vientiane and the total value of Pe-trolimex’s investment in the company stands at approximately USUS$1.89 million, rep-resenting 100 percent of the company’s charter capital.
According to Petrolimex, participation in the asset bidding process requires that inves-tors meet criteria outlined in the asset sale regulations for Petrolimex’s investment in Laos. The reserve price for the auction is over VNĐ68.1 billion.
Investors are required to submit a deposit of 10 percent of the total value of the shares they intend to purchase, calculated based on the agreed price in dong.
Bidders must submit their letters of intent and accompanying documents by 4pm on June 30, 2026 at Petrolimex’s headquarters located at 1 Kham Thien, Van Mieu – Quoc Tu Giam Ward, Hanoi.
Before the submission deadline, interested investors may engage directly with the own-er of the shares to negotiate and clarify any enquiries regarding the company involved and the sale process, as detailed in the regulations.
Petrolimex has mentioned that the divestment from Petrolimex Laos is in line with its restructuring plan aimed at streamlining operations, reducing costs and enhancing busi-ness effectiveness to optimise shareholder value.
Previously, Petrolimex divested entirely from PGBank and reduced its ownership in Pe-trolimex Insurance Corporation (PJICO) from 51 percent to 40.95 percent.
On the stock market, Petrolimex’s shares closed December 9 at VNĐ35,000 per share, down 2.91 percent.

(Latest Update December 11, 2025)