Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) has registered to sell 7.6 million shares of Vietnam Airlines Corporation, which is listed as HVN on the stock market. Vietnam Airlines staff introduce its quality service in Spain. The transaction is expected to take place from January 24-February 22. This is part of more than 22.4 million shares, equivalent to 1.8 per cent of charter capital of Vietnam Airlines that Vietcombank bought in the airline’s initial public offering in late 2014. The bank spent VND544.12 billion (US$23.9 million) to buy the shares, or VND22,300 for each share. At the current market price of Vietnam Airlines’ shares at some VND63,700 each, Vietcombank can earn an estimated VND484 billion from the sale of its 7.6 million shares after more than two years of holding. Compared to six months ago, the stock has nearly tripled in terms of market value. If successful, Vietcombank’s holdings at Vietnam Airlines will reduce to 1.2 per cent. The shares of Vietnam Airlines and VJC shares of budget carrier Vietjet Air are two aviation stocks that have grown fast in the past few months. The growth of share prices comes mainly from positive business results in late 2017 and early 2018 in the aviation industry. Last year, Vietnam Airlines Corporation, including Jetstar Pacific and Vietnam Air Services Company (VASCO), recorded a consolidated revenue of VND88.4 trillion (US$3.88 billion) and pre-tax profit of more than VND2.8 trillion, exceeding 72 per cent of its plan and up 8.3… [Read full story]
The State Bank of Vietnam (SBV) announced it had approved a proposal from the Bank for Foreign Trade of Vietnam (Vietcombank) to issue 1,200 billion VND (76 million USD) in convertible bonds later this year. The bond issuance was a Vietcombank initiative designed to raise equity capital in the prelude to equitisation next year. When that happens, investors will be able to have their bonds converted into common shares. The SBV said the seven year bonds are to be reserved exclusively for Vietnamese individual and institutional investors, adding that the issuance will help raise Vietcombank's financial standing before it begins…... [read more]
HA NOI — Vietcombank has sold a stake representing 15 per cent of its outstanding shares to Japan's Mizuho Bank, a wholly-owned subsidiary of the Mizuho Financial Group, for VND$11.8 trillion (US$567.3 million) - marking the end of the bank's four-year-long search for a foreign strategic partner, as well as the largest stock acquisition deal in the nation to date. Under the agreement, Mizuho Bank will subscribe to a new issue of 237.6 million ordinary shares in Vietcombank at about VND34,000 per share, significantly higher than yesterday's market price of VND27,400. It will also appoint one director to the Vietcombank…... [read more]
According to newswire CafeLand, in the first phase, Techcombank will issue 70 million shares at the initial price of VND30,000 ($1.32) apiece. The sale is expected to take place between September and October or when the bank receives approval from State Securities Commission of Vietnam. In the second phase, the bank will sell the remaining 430 million shares, aiming to add VND4.3 trillion ($189.27 million) to its chartered capital. The time for the sale will be decided after Techcombank completes the first round.If successful, Techcombank’s chartered capital will increase from VND8.8 trillion ($387.69 million) to VND13.8 trillion ($607.96 million) after…... [read more]
Investors snap up Vietnam Air shares at IPO Lan Nhi By Lan Nhi - The Saigon Times Daily HCMC – National flag carrier Vietnam Airlines sold out more than 49 million shares worth VND1,093 billion at its initial public offering (IPO) at the Hochiminh Stock Exchange (HOSE) last Friday. A total of 1,577 investors bought the 49 million shares, or 3.475% of the national carrier’s total, at an average price of VND22,307 each, slightly higher than the starting price. However, the airline failed to attract foreign investors. Two local banks purchased most of the shares offered. Techcombank bought 25.8 million…... [read more]
An announcement seen on the State Securities Commission website Tuesday said the stock market regulator has allowed Tien Phong Joint Stock Commercial Bank to sell 50 million shares at the face value of VND10,000. The authority said the bank must sell the shares within the next three months. It said the bank has a chartered capital of VND1.25 trillion (about $69 million). The State Securities Commission also announced earlier that Vietnam International Commercial Joint Stock Bank (VIB) had given permission to sell shares to its existing shareholders at the face value of VND10,000. Hanoi-based VIB said it was selling the…... [read more]
