Viet Nam News
HÀ NỘI — Techcombank has completed the sale of 64.4 million treasury stocks, collecting more than VNĐ8.24 trillion (US$361.5 million), the bank announced.
The shares, equivalent to 5.85 per cent of the bank’s capital, were sold between April 27 and May 7 at an average price of VNĐ128,000 ($5.61) per share through transactions on the Việt Nam Securities Depository Centre (VSDC).
In the first phase (March 21 to April 19), Techcombank also offloaded 93.2 million treasury stocks, equalling 9.39 per cent of its capital, for VNĐ8.48 trillion, or at VNĐ91,000 per share.
After the two offerings, Techcombank has raised more than VNĐ16.7 trillion.
In the third quarter of last year, Techcombank paid more than VNĐ4.04 trillion to buy back nearly 172.4 million stocks (treasury stocks), equivalent to just VNĐ23,459 per share.
The bank’s share value has risen by more than five times since then.
In April, Techcombank also sold 164 million shares worth VNĐ21 trillion to foreign investors at the price of VNĐ128,000 per share, valuing the bank at $6.5 billion.
It is expected to list itself on the HCM Stock Exchange on June under the code TCB.
VDSC announced the deadline for closing the list of shareholders registering ownership on May 11.
Founded in 1993 with charter capital of just VNĐ20 billion, Techcombank has emerged to be Việt Nam’s largest private sector bank with charter capital of nearly VNĐ11.66 trillion and total assets of VNĐ269.4 trillion by the end of last year.
The bank posted a pre-tax profit of more than VNĐ8 trillion in 2017 and has targeted a pre-tax profit of VNĐ10.8 trillion this year.
Techcombank’s shares are trading on the over-the-counter (OTC) market at around VNĐ115,000 per share. — VNS