Vietcombank has just announced the public offering of shares at Orient Commercial Joint Stock Bank (OCB). The numbers of registered shares were 6,672,444 units. The auction was organised on April 17, 2018.
Vietcombank said the bank distributed 5,196,320 shares, accounting for 77.88 percent of the total shares offered for sale. As such, the bank still holds more than 1.4 million shares at OCB. The total amount of proceeds from the sale of shares was nearly 135.7 billion dong, including 133.7 billion dong paid for share payment and 1.9 billion dong proceeds from violation of regulations.
At this share offering, Vietcombank had to spend more than 574 million dong on consultancy fee and distribution of shares. As such, the bank earned the net of 135 billion dong from this auction.
No foreign investor registered to purchase while 677 domestic investors registered and among them, 188 people were allowed to distribute OCB shares. The average price was 25,735 dong each.
Earlier, Vietcombank used to auction nearly 18.9 million OCB shares at the starting price of 13,000 dong at the end of 2017. However, only 13.16 million shares were sold at the highest price of 14,500 dong and the lowest price of 13,000 dong. It is estimated that Vietcombank earned more than 171 billion dong from the first offering.
As such, after two auctions, Vietcombank earned more than 300 billion dong.
Apart from not divesting the entire capital from OCB, Vietcombank now still owns shares at two other banks including Eximbank and MB, at more than five percent. At the annual general meeting (AGM) 2018, the bank leader said the bank will divest from these two banks, bringing the ratio to less than five percent. “If the Q2 market was favourable, Vietcombank will carry out this content”, said Nghiem Xuan Thanh, Chair of Vietcombank. Earlier, at the end of 2017, Thanh also said it would sell Eximbank and MB shares right in Q1 but did not carry out.
