VietinBank Capital Boosts Petrosetco (PET) Stake to 17.26%

Overview

VietinBank Capital, the fund management arm of VietinBank, has increased its ownership in Petrosetco (PET) to 17.26% after purchasing 5.9 million shares on July 22, 2026. This follows a prior acquisition on June 4, 2026, when it bought 9.35 million shares at VND 53,000 per share, becoming a major shareholder. PET recently completed a stock dividend and bonus share issuance, boosting its charter capital to VND 1.55 trillion.

Key Facts

• VietinBank Capital bought 5.9 million PET shares on July 22, 2026, raising its stake from 13.45% to 17.26%.
• The fund now holds over 26.7 million PET shares.
• On June 4, 2026, VietinBank Capital purchased 9.35 million PET shares via a negotiated transaction valued at VND 495.55 billion (VND 53,000/share), increasing its stake from 4.96% to 13.45%.
• PET completed a stock dividend issuance on July 10, 2026, distributing 5.3 million shares at a 20:1 ratio, funded from retained earnings.
• PET also issued 42.68 million bonus shares at a 5:2 ratio, sourced from share premium and development funds.
• Post-issuance, PET’s charter capital rose from VND 1,073.3 billion to VND 1,553.5 billion.
• PET shares closed at VND 35,500 on July 27, 2026, on HOSE.

What Happened

VietinBank Capital, a wholly owned subsidiary of VietinBank, reported a change in its ownership of Petrosetco (PET) to the Ho Chi Minh Stock Exchange. The fund acquired 5.9 million PET shares on July 22, 2026, lifting its total holdings to over 26.7 million shares, equivalent to a 17.26% stake. This transaction follows a larger purchase on June 4, 2026, when VietinBank Capital bought 9.35 million shares at VND 53,000 each, becoming a major shareholder with a 13.45% stake.

Separately, Petrosetco completed a capital increase through stock dividends and bonus shares on July 10, 2026. The company distributed 5.3 million shares as dividends (20:1 ratio) and 42.68 million bonus shares (5:2 ratio), raising its charter capital from VND 1,073.3 billion to VND 1,553.5 billion. The new shares are not subject to transfer restrictions and are expected to be delivered in July-August 2026.

Market Context

PET shares closed at VND 35,500 on July 27, 2026, on HOSE. The stock has been supported by the recent capital increase and institutional accumulation. VietinBank Capital’s continued buying, at an average price of VND 53,000 for its initial stake, suggests a long-term view. PET operates in the oil and gas services sector, which has seen mixed sentiment amid global energy price fluctuations.

Strategic Significance

VietinBank Capital’s increasing stake in PET signals strong institutional confidence in the company’s growth prospects. The fund’s purchases, particularly the large negotiated block at a premium to the current market price, indicate a strategic investment rather than a passive holding. PET’s capital increase through stock dividends and bonus shares reflects its commitment to rewarding shareholders and strengthening its equity base. The oil and gas services sector in Vietnam benefits from stable domestic demand and potential expansion in offshore services.

What to Watch

• Further stake changes by VietinBank Capital or other major shareholders.
• PET’s Q3 2026 earnings report to assess operational performance post-capital increase.
• Any new contracts or project announcements in the oil and gas services segment.
• PET’s dividend policy for 2026 following the recent stock dividend.
• Trading volume and price action around the delivery of new shares in July-August 2026.