Thursday, July 27, 2017 11:55:53 PM - Markets closed
VN-INDEX 771.50 -2.38/-0.31%
HNX-INDEX 99.63 +0.20/+0.20%
UPCOM-INDEX 56.46 +0.53/+0.96%
VPBank plans to list shares on HOSE in Q3
Source: VNS - 4/12/2017 8:57:11 AM
 (0 ratings. You must sign in to rate.)
Việt Nam Prosperity Joint Stock Commercial Bank (VPBank) is expected to start trading on the HCM Stock Exchange in the third quarter of 2017.

This information was revealed at the bank’s annual shareholder meeting on Monday.

VPBank’s shareholders in late 2016 approved of the bank’s share listing on the HCM City’s bourse.

VPBank had worked with the Vietnam Securities Depository on the procedures, however, it could take some time to complete all administrative procedures, said VPBank’s chairman Ngô Chí Dũng, adding that the bank had contracted with a securities company on its share listing.

Dũng also said VPBank had been negotiating with potential foreign buyers to sell 49 per cent of its stake in financial arm FE Credit.

The deal was aimed at increasing capital for the bank and improving the quality of corporate governance for FE Credit, he said. The details of the deal were not disclosed at the meeting.

Capital to increase to $622 million in 2017

VPBank plans to issue nearly 329.4 million shares to raise its chartered capital to over VNĐ14 trillion (US$622 million) in 2017 from the current level of VNĐ10.76 trillion.

The increase of chartered capital will ensure its business activities are well funded and the bank meets requirements on different ratios.

After raising capital, VPBank will issue a maximum of 133.2 million shares, or 10 per cent of the total common shares, to less than 100 investors under private placements.

Share price will be negotiated with each investor and will not be lower than the share’s book value.

The shares will be issued in 2017 and will be unavailable for trading for one year from the issuance date.

Currently, VPBank is among 10 largest joint stock commercial banks by chartered capital. A successful capital increase this year will bring VPBank to the fourth position after Sacombank, MBBank and SCB.

In 2017, VPBank has targeted pre-tax profit of VNĐ6.8 trillion, a year-on-year increase of 38 per cent from 2016’s figure, and total assets of VNĐ280.6 trillion. Last year, it recorded pre-tax profit of VNĐ4.92 trillion, an increase of 59 per cent from 2015.

The bank also plans to pay dividend in shares for 2016’s performance to increase mid and long-term capital, meet Basel II requirements, improve the bank’s risk management system and meet requirements of international finance institutions and the central bank.


Newer News
20/04 Reference exchange rate up 8 VND
19/04 State Bank works to maintain stable interest rates
18/04 Handbook helps banks weigh projects
14/04 SBV to stop acquiring weak banks at zero đồng
13/04 Reference exchange rate goes down 1 VND
Older News
12/04 Moody’s assigns first-time ratings to OCB
07/04 21 VN banks gather to discuss interest rates
04/04 Reference exchange rate up 7 VND
03/04 Creditors adjust growth forecasts
28/03 Liquidity remains strong: State Bank of VN
24/03 Banks to face interest margin challenges: SSI
21/03 Some banks enter new rate race
17/03 Gold up, dollar down in unusual VN reaction
14/03 Banks hopeful for mortgage market growth
10/03 Reference exchange rate goes up 5 VND
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:01:37 PM
VN-INDEX 771.50 -2.38/-0.31%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.