(Corrects expected size of IPO to at least $122 million, not $92 million, in headline and first paragraph)
HANOI, Dec 1 (Reuters) - Vietnam state oil distribution firm PetroVietnam Oil Corp (PV Oil) plans to offer 20 percent of its shares in an initial public offering in January that aims to raise at least $122 million, its parent firm said on Friday.
PV Oil would also offer up to an additional 44.72 percent to strategic investors and another 0.18 percent to employees, state oil and gas group PetroVietnam said in a statement on its website.
The government plans to reduce its stake in PV Oil to 35.1 percent, the statement said. (Reporting by Mai Nguyen; Editing by Muralikumar Anantharaman)