Thứ Hai, 7 tháng 8, 2017

10 commercial banks sprint to enter bourse by year-end

 Banks are rushing to list shares on the stock market by the year-end.

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VPBank, for example, is completing procedures to enter the bourse in the third quarter of the year. The bank now has charter capital of VND14.059 trillion.

On July 28, VPBank wrapped up a list of shareholders to prepare for the deposit 1.33 billion shares at VSD and listing shares at the HCMC Stock Exchange (HOSE).

On the OTC market, VPBank share prices soared to VND49,000 per share from VND20,000 earlier this year.

Sources said the managers of the bank and their family members are collecting the shares of the bank. On July 25 - August 28, the total amounts that Ngo Chi Dung, the bank’s chair, his mother and wife want to collect are 10.5 million shares, 66.6 million and 65 million, respectively.
Under MOF’s Circular 180, public companies whose shares are still not listed at stock exchanges, must register to put their shares into transaction on them UpCom market prior to December 31, 2016.
If the transactions succeed, the ownership ratio of Dung and his family members would increase to 14.56 percent of charter capital.

The wife of VPBank’s deputy chair Bui Hai Quan has also registered to buy 5 million VPBank shares under negotiation to increase her ownership ratio to 4.72 percent.

A relative of vice chair Lo Bang Giang registered to collect 112 million VPBank shares, or 8.4 percent of charter capital, on July 7 – August 7.

Under MOF’s Circular 180, public companies whose shares are still not listed at stock exchanges, must register to put their shares into transaction on them UpCom market prior to December 31, 2016.

The 10 joint stock banks which must enter the bourses by the end of 2017 include OCB, AnBinh Bank, Techcombank, NamA Bank, Maritime Bank, VietA Bank, TienPhong Bank, SeAbank, HDBank and LienViet Post Bank.

The banks have announced plans to list shares on the bourse, but have delayed them because of unfavorable market conditions.

Only two banks, namely VIB and KienLong Bank, have entered UpCom market this year and only 11 out of 35 banks have listed shares to date.

VIB listed 564 million shares with the starting price of VND17,000 per share on January 9 and plans to list shares on HOSE by 2018. VIB share price soared to VND22,400 per share on July 27.

KienLong Bank listed 300 million shares on UpCom on June 29. The shares are now traded at around VND10,200 per share.

While state management agencies repeatedly urge banks to list shares, the banks still have not issued new announcements.

The shareholders of Techcombank, ABBank, OCB and LienVietPostBank have agreed on the listing plan. Meanwhile, only 3 percent of Maritime Bank’s shareholders accept the listing.
 

M. Ha, VNN

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