Vietnam Ventures Ltd has sold two million shares in real estate firm Khang Dien while TPBank will list 555 million shares on HoSE at price of $1.4 apiece this month.
Vietnam Ventures sells 2m shares in Khang Dien real estate firm
Vietnam Ventures Ltd, under Vietnam-based fund manager VinaCapital, has sold two million shares of Khang Dien House Trading and Investment JSC (KDH), according to a disclosure on Ho Chi Minh City Stock Exchange (HoSE).
KDH share price has increased by 30 per cent from the beginning of the year. At a price of VND37,000 per share on April 2, Vietnam Ventures is expected to earn VND70 billion ($3.08 million) from the sale. After the transaction, the ownership of the fund will decrease from 7.12 per cent to 6.52 per cent.
Last year, Vietnam Ventures also registered to sell 2 million shares of KDH out of more than 25.92 million shares, reducing the ownership from 8.38 per cent to 7.12 per cent.
According to the real estate firm’s list of shareholders, Tien Loc Investment Co. Ltd is now the biggest shareholder of KDH with nearly 45.4 million shares, equivalent to 11.7 per cent of stake. Other shareholders are Vietnam Enterprise Investment Ltd with 7.6 per cent stake and Finland’s Pyn Elite Fund (Non-Ucits) with 5.2 per cent stake.
Founded in 2001, Ho Chi Minh City-based KDH together with its subsidiaries operates as a real estate investment and development company in Vietnam. The company trades in and leases houses, constructs houses for sale and lease; invests in the construction of infrastructure projects.
TPBank to list shares on April 19
The Tien Phong Joint Stock Commercial Bank (TPBank) will list 555 million shares, equivalent 95 per cent stake on Ho Chi Minh City Stock Exchange (HoSE) on April 19.
In a disclosure to HoSE, Hanoi-based TPBank will list the number of shares at a price of VND32,000 ($1.4) apiece.
According to the prospectus of the bank, three shareholders holding more than 5 per cent of the Bank’s share capital include: FPT Joint Stock Company with 8.68 per cent of charter capital; Doji Jewelry Group JSC 7.6 per cent and Vietnam National Reinsurance Corporation (VINARE) 5.14 per cent.
In addition, Vietnamese mobile network operator MobiFone also owns about 5.5 million shares, equivalent to 0.95 per cent of the bank’s charter capital.
Last year, TPBank proposed shareholders to approve its listing on HoSE. Under the plan, the bank will trade 555 million shares and issue an additional 29.2 million bonus shares, taking its market capitalization to VND5.84 trillion ($259.5 million). The listing is expected to raise more than $100 million for TPBank from both local and foreign investors.
Founded in 2008, TPBank is a medium-sized bank in Vietnam with charter capital of VND5.8 trillion ($255 million). In 2017, TPBank’s total net revenue reached VND3.6 trillion ($158.4 million), up 49.5 per cent year-on-year and its pre-tax profit reached VND1.2 trillion ($52.8 million), up 70 per cent year-on-year.
Last year, Finnish independent fund management company PYN Fund Management completed its acquisition of a 4.99 per cent stake in TPBank for $40 million, marking the largest investment it has made in Vietnam. The deal also marked the Asia-focused PYN Elite Fund‘s first investment in a Vietnamese bank.
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