VietinBank Capital Acquires 13.45% Stake in Petrosetco (PET) for VND 495.6B

Overview

VietinBank Capital, the fund management arm of VietinBank, has acquired 9.35 million shares of Petrosetco (PET) on June 4, 2026, raising its ownership from 4.96% to 13.45% and becoming a major shareholder. The block trade was valued at VND 495.55 billion (approx. USD 19.82 million), based on a price of VND 53,000 per share. The transaction comes as PET plans significant capital increases through stock dividends and bonus shares.

Key Facts

• VietinBank Capital bought 9.35 million PET shares on June 4, 2026, increasing its stake from 4.96% to 13.45%.
• The deal was executed via a block trade on the HoSE at VND 53,000 per share, totaling VND 495.55 billion (USD 19.82 million).
• PET plans to issue 5.3 million shares as a 2025 stock dividend at a ratio of 20:1 (1 new share for every 20 held).
• PET also plans to issue 42.7 million bonus shares at a ratio of 5:2 (2 new shares for every 5 held).
• The combined issuances would increase PET’s charter capital from VND 1,073.3 billion to approximately VND 1,553.6 billion.
• The stock dividend and bonus share issuances are expected in Q2-Q3 2026, pending SSC notification.
• Rights to receive shares in both issuances are non-transferable, but the new shares are freely tradable.

What Happened

VietinBank Capital, a wholly-owned subsidiary of VietinBank, reported becoming a major shareholder in Petrosetco (PET) after acquiring 9.35 million shares on June 4, 2026. The purchase lifted its ownership from below the 5% disclosure threshold to 13.45%, making it a significant institutional investor in the oil and gas services company. The transaction was executed as a block trade on the HoSE at VND 53,000 per share, matching the reported volume and price.

Separately, PET’s board has approved a plan to issue shares for a 2025 stock dividend and bonus shares from equity. The stock dividend will distribute 5.3 million shares (ratio 20:1), while the bonus issue will add 42.7 million shares (ratio 5:2), sourced from retained earnings, share premium, and development funds. The capital increase is subject to regulatory approval from the State Securities Commission (SSC).

Market Context

PET shares closed at VND 49,400 on June 9, 2026, up 1.65% with volume of 241,200 shares, below the block trade price of VND 53,000. The stock trades on the HoSE in the Oil & Gas Services sector. The acquisition by a state-linked financial institution signals confidence in PET’s fundamentals and growth prospects, particularly as the company embarks on a substantial capital expansion.

Strategic Significance

VietinBank Capital’s move to become a major shareholder aligns with PET’s aggressive capital-raising plan, which will nearly double its equity base. The stake increase provides VietinBank Capital with board representation and influence over strategic decisions. For PET, having a strong financial backer could facilitate access to credit and support for its service contracts in the oil and gas sector. The timing suggests VietinBank Capital sees value in PET’s current valuation and future dividend potential.

What to Watch

• SSC approval timeline for PET’s stock dividend and bonus share issuances.
• PET’s Q2 2026 earnings report to assess operational performance.
• Any further stake accumulation by VietinBank Capital or other institutional investors.
• PET’s share price reaction post-issuance and potential dilution effects.
• Updates on PET’s business contracts in the oil and gas services sector.