Việt Nam News

After the two offerings, Techcombank has raised more than VNĐ16.7 trillion. — Photo theleader.vn

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

Tags Vietnam Techcombank Vietnam News share sale news

Shares experience four consecutive days of decline

Economy

VietinBank set out business plan and dividend payout plan for 2024 Shareholders' Meeting

Economy

Listed firms see positive signals in Q1

Economy

Lào Cai to increase local budget contribution toward Sa Pa airport to attract private capital

Economy

Ministry requests Hà Nội to inspect rising prices of apartments

Economy

Nội Bài airport named in the world’s top 100 airports for the sixth time

More on this story

Economy

Paper factory’s investment certificate to be revoked

The People’s Committee in central Quảng Ngãi Province has assigned the provincial Department of Planning and Investment to revoke the investment certificate of Tân Mai Pulp and Paper Factory.

Economy

Ministries urged to remove 49% foreign cap

The Prime Minister’s working group has asked the Ministries of Finance and Planning and Investment to swiftly lift the foreign ownership limit of 49 per cent at enterprises where foreign investment is not restricted.

Economy

VN shares expected to remain firm this week

Healthy market growth during the weekend cannot conceal the fact that local stock markets are likely to remain quiet this week, amid an information-missing month in May and rising tensions throughout the globe.

Economy

Oil firms pile up losses, shares take beating

The first quarter of this year saw the Petroleum Equipment Assembly & Metal Structure Joint Stock Company (PXS)’s revenues plummet to a mere VNĐ18.5 billion (US$815,000), 94.4 per cent down year-on-year.

Economy

FDI firms prefer commercial dispute arbitration

As many as 40 per cent of foreign direct investment (FDI) enterprises choose to use commercial arbitration in cases of disputes, rather than going to court, said Phan Trọng Đạt, Deputy Secretary General of the Việt Nam International Arbitration Centre (VIAC).