MBB shares have experienced a 32 per cent increase since the beginning of the year, reaching a historical peak of VNĐ24,600 per share. — Photo MBB

HÀ NÔI — State Capital Investment Corporation (SCIC) has announced its plans to invest VNĐ480 billion (US$19.4 million) to purchase 30 million shares of Military Commercial Joint Stock Bank (MBB) through a private placement. 

The offering price is set at VNĐ15,959 per share.

This acquisition is part of MBB's issuance plan of 73 million shares, which was approved by MBB on January 27, 2024. The transaction is scheduled to take place between March 8 and April 6.

Under the approved plan, MBB will offer 73 million shares to two investors, SCIC and the Military Industry and Telecoms Group (Viettel). Viettel will purchase 43 million MBB shares.

These shares are restricted from transferring within five years.

Currently, SCIC holds over 491.4 million MBB shares, accounting for 9.42 per cent of the bank's charter capital. Upon the completion of the transaction, SCIC's ownership will increase to more than 521 million shares, representing 9.86 per cent of the charter capital.

After Viettel exercises its purchase, its ownership will rise to more than one billion shares, equivalent to over 19.07 per cent of MBB's capital, solidifying its position as the largest shareholder of MBB.

MBB shares have experienced a 32 per cent increase since the beginning of the year, reaching a historical peak of VNĐ24,600 per share. The private placement price stands at a discount of nearly 35 per cent compared to the current market price of MBB.

It is worth mentioning that the private placement for domestic investors will not affect the maximum foreign ownership limit of MBB, which remains at 23.2 per cent of the bank's charter capital. Following the completion of the private placement, MBB's charter capital will rise to VNĐ52.9 trillion ($2.2 billion), positioning it as the fifth-largest bank in the industry, trailing VPBank, BIDV, Vietcombank, and VietinBank.  VNS