PetroVietnam Northern Gas Joint Stock Company (HNX:PVG) announced a private placement of 8,780,150 common shares at a price of VND 10,000 per share for the gross proceeds of VND 87,801,500,000 on May 4, 2019. The transaction will include participation from returning investor Petrovietnam Gas Joint Stock Corporation (HOSE:GAS). The company will incur total expenses of VND 438,696,000 in the transaction.

The investor will increase its stake to 51.31% through the transaction. The transaction was approved by the board of directors of the investor.