PVFC stops stake purchase

Friday, May 16, 2008
PetroVietnam Finance Corporation, known as PVFC, bought 834,250 shares in oil drilling firm PetroVietnam Drilling and Well Services to raise its holding to 7.21% from 6.36%, the Ho Chi Minh Stock Exchange’s Web site reported after the market closed on Wednesday.
PVFC had planned to buy one million shares but canceled the sale, which started in February, after buying 834,250 shares.
The share purchase was cut short because of the market’s ongoing decline.