The Board of directors of Vietnam Technological and Commercial Joint Stock Bank (Techcombank, TCB) has issued a Resolution on the implementation of the plan to increase charter capital in 2019 by issuing more than 3.5 million shares to employees (Employee Share Ownership PlanESOP).
Particularly, 325,000 shares will be for foreign employees, 3.22 million shares will be for Vietnamese employees. The ratio of shares issued under ESOP on total outstanding shares is 0.1 percent.
The offer price is 10,000 per share, equivalent to the share’s face value. Notably, the shares to be issued this time are not restricted to transfer. The implementation time of the plan is in 2019, after it is approved by the State Securities Commission and ensured to comply with the provisions of law.
Previously, Techcombank’s 2019 annual general meeting has approved the ESOP plan with 10 million shares at the offer price of 10,000 dong per share (equivalent to 0.29 percent of the shares in circulation). The total issuance value is 100 billion dong.
In 2018, Techcombank also issued nearly 14.7 million shares under the ESOP plan at selling price of 10,000 per share.
Closing the trading day on August 16th 2019, TCB share price stood at 21,900 dong per share, more than two times higher than the price Techcombank offers its employees.
