HDBank debuts on the Ho Chi Minh Stock Exchange (HOSE) on January 5, offering about 981 million shares at the reference price of 33,000 VND each (Photo: HDBank) HCMCity (VNA) – The Ho Chi Minh City Development Bank, or HDBank, debutedon the Ho Chi Minh Stock Exchange (HOSE) on January 5, offering about 981million shares at the reference price of 33,000 VND (1.45 USD) each.
Given a trading band of /-20 per cent, the shareprice of HDBank, coded HDB, is expected to move within a range of 26,400 VNDand 39,600 VND on the first transaction day.
Thelender’s market capitalisation was estimated at approximately 32.4 trillionVND, or 1.43 billion USD, putting it within the top 20 stocks by market cap onthe southern bourse.
HDBank is the second bank to float shares on theHOSE since early 2017 after VPBank became the the eighth lender to list on theexchange so far.
It held an initial public offering (IPO) forforeign investors in December 2017 that raised 300 million USD for 21.5 percentof its shares.
Bylisting on HOSE, HDBank expects to raise its market capitalisation andliquidity and bring more opportunities for both domestic and foreign investors,said the bank’s vice chairwoman Nguyen Thi Phuong Thao. To this end, the bankhas prepared its business plan between 2017 and 2021 to reach annual growthrate of 25 percent, she added.
From a medium-class lender, HDBank has made significant growthover the past two years and entered the ranks of the top eight banks in termsof total assets and profits.
Ending December 2017, it had total assets worth over 191 trillionVND (8.4 billion USD) and equity in excess of 15 trillion VND (660 millionUSD). Its profit for 2017 was estimated at 2.42 trillion VND (106.48 millionUSD). It operates a network of more than 240 transaction branches and 4.8 millionclients. — VNA
VNA
