SK Energy, part of South Korea’s SK Group, has cut its holding in PetroVietnam Oil Corporation (PVOIL, UpCoM: OIL) by 10.8 million shares, leaving it with a 4.19 percent stake, The Investor has reported → view source.
The divestment means SK Energy is no longer a major shareholder.
Key details:
- Transaction size: About VND127 billion or US$4.8 million, based on OIL’s closing price of VND11,800 on August 22.
- Remaining stake: 43.3 million shares, equivalent to 4.19 percent, down from 5.23 percent.
- Company performance: In H1 2025, PVOIL revenue rose 13 percent year-on-year to VND72.7 trillion (US$2.76 billion), but net profit fell 33 percent to VND232 billion (US$8.8 million).
- Broader SK moves: SK Investment Vina II recently exited Vingroup with a 6.05 percent divestment. In late 2024, SK Group sold 76 million Masan shares, trimming its stake to 3.67 percent.
SK Group has been scaling back its Vietnam exposure after once being among Vietnam’s most active strategic foreign investors.
This reality fits with a broader exit from Vietnam’s stock market by foreign firms which have divested to the tune of more than US$6 billion since the start of 2024.
See also: Vietnam’s Foreign Investor Stock Sell-Off: Unpacked 2024