Saturday, August 18, 2018 5:20:45 AM - Markets open
VN-INDEX 968.88 +4.60/+0.48%
HNX-INDEX 108.02 +0.10/+0.09%
UPCOM-INDEX 51.47 +0.08/+0.16%
ACB: High return from share sale - 5/31/2018 9:39:22 AM
 (0 ratings. You must sign in to rate.)
The Asia Commercial Joint Stock Bank (ACB) may earn between VNĐ1.3 trillion (US$57.8 million) and VNĐ1.5 trillion from selling treasury shares, according to HCM City Securities Corp (HSC).
ACB is holding more than 41.4 million treasury shares out of its 1.12 billion listed on the Hà Nội Stock Exchange, equal to 4.03 per cent of the total shares.
The bank bought those treasury shares back from investors in January 2015, May 2014 and July 2013 for an average price level of VNĐ16,080 (71.5 US cents) per share.
HSC said in a recent report there has been no news about of the bank selling its treasury, however, it could be a good way to increase its charter capital.
If ACB decides to sell at the current market price, it could generate VNĐ1.3 trillion to VNĐ1.5 trillion in profit that could be added into the bank’s share premium.
ACB shares closed Wednesday at VNĐ38,400 per share, nearly 2.4 times the average price the bank paid.
ACB has some VNĐ3 trillion worth of guarantees related to various loans, including stocks and some real estate projects. The bank is forecast to sell entire or a part of those assets in the next few years, HSC said.
HSC also forecast that ACB would record VNĐ6 trillion in pre-tax profit, a yearly increase of 127 per cent.
Total lending and raised deposit would rise 18 per cent each to VNĐ234 trillion and VNĐ284 trillion at the end of the year, HSC said, adding that the bank’s net interest margin (NIM) rate would increase to 3.55 per cent from 3.48 per cent in 2017.
ACB would be able to reduce its provision set aside to pay for anticipated future losses by 81 per cent as it would clear entire VAMC bonds and loans to eight companies involved in the prosecution of the bank’s former chairman Nguyễn Đức Kiên, HSC said. The bank’s non-performing ratio is also estimated at 0.8 per cent this year. — VNS
Read original article here
Newer News
17/08 PLX: Petrolimex asks for divestment extension
17/08 MCH finalising bonus share list
17/08 LPB: LienVietPostBank downgrades many business targets
16/08 HVN: Vietnam Airlines’ pre-tax profit surges 87 percent in six months
16/08 FPT betting on M&A to go global
16/08 PVN considers merger of two biggest fertiliser firms
16/08 MSR: Masan buys tungsten facility
14/08 VPB: VPBank plans to issue 33.7 million ESOP shares
13/08 VNM: Vinamilk to spend over 170 mln USD on hi-tech dairy farm in Can Tho
10/08 SCIC evaluates State capital divestment
Older News
31/05 TCD: Tracodi targets over $50m revenue this year
24/05 TCB: Techcombank to list over 1.1b shares
22/05 VIC: Vingroup target 50% profit growth
19/05 Woomi Construction seizes major holding in two real estate developers
19/05 GMD: Gemadept eyes 227% rise in profit
19/05 HVN: Vietnam Airlines plans to build logistics hub in Can Tho city
18/05 MPC: Minh Phu Seafood tries to bring back glory days
18/05 Vingroup property affiliate’s shares listed on southern bourse
16/05 TDH: Daewon Thu Duc House develops $115-million property project in Hanoi
16/05 VPB: FE Credit comes under inspection for wide-scale harassment
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 3:14:05 PM
VN-INDEX 968.88 +4.60/+0.48%
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...
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.