Hanoi Stock Exchange (HNX) has announced Vietcombank’s auction of more than 6.6 million shares held in Orient Joint Stock Commercial Bank (OCB).
Specifically, the number of shares to be auctioned this time is 6,672,444 units. The starting price of Vietcombank is 13,000 dong per share. The auction time is scheduled to be on April 17, 2018.
Earlier, at the end of December 2017, Vietcombank auctioned nearly 18.9 million OCB shares at the starting price of 13,000 dong. As a result, 58 investors participated in the auction including four institutional investors and 54 individual investors.
However, only 13.16 million shares were registered to purchase at the highest price of 14,500 dong and the lowest price of 13,000 dong. After this auction, Vietcombank’s ownership rate at OCB fell from 4.72 percent to 3.97 percent.
Vietcombank said the divestment from OCB and some other credit organisations is to comply with provisions in Circular No.36 of the State Bank on share ownership rate among credit organisations. Accordingly, Vietcombank is allowed to own no more than five percent stake in two credit organisations.
Currently, apart from OCB, Vietcombank still has 8.19 percent stake in Eximbank and 6.97 percent stake in MB.
On OTC, OCB shares are traded around 18,000-20,000 dong each.
