Techcombank shares to be listed on HOSE on June 4
Techcombank will begin selling its 1.1 billion shares coded TCB on the Ho Chi Minh City Stock Exchange on June 4 with a starting price of 128,000 VND (5.62 USD) per share.
Techcombank’s board of directors answered questions at the pre-listing conference on May 23 (Source: VNA)Hanoi (VNA) – The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will begin selling its 1.1 billion shares coded TCB on the Ho Chi Minh City Stock Exchange (HOSE) on June 4 with a starting price of 128,000 VND (5.62 USD) per share.
At the price, the bank is valued at 149 trillion VND (6.5 billion USD), making it Vietnam’s second-biggest listed bank after State-owned Vietcombank at 192 trillion VND (8.4 billion USD).
Techcombank’s capitalisation is even higher than that of the BIDV and Vietinbank, whose charter capital is three times higher in comparison.
Last month, Techcombank raised 922 million USD in one of the country’s biggest initial public offerings (IPO). Singapore wealth fund GIC, Fidelity Management and Research, and Dragon Capital are among the funds coming in as cornerstone investors.
Techcombank also planned to raise charter capital by three times from the current 11 trillion VND (481 million USD) to 35 trillion VND (1.5 billion USD) after its listing debut to better compete with not only local rivals but also regional ones. It will organise an abnormal shareholder meeting on June 14 to approve the charter capital listing.
It will issue more than 2.3 million common shares with par value of 10,000 VNA each (0.4 USD) to increase its charter capital.
Last year, the bank’s total asset was 269.3 trillion VND (11.8 billion USD) and integrated pre-tax profit was 8 trillion VND (351.2 million USD), double than 2016. The return on equity (RoE) surged to 27.7 percent — the highest level among banks in Vietnam.
The 25-year-old bank provides a broad range of banking products and services to more than 5.4 million Vietnamese customers. It has an extensive network of 315 branches across the country.-VNA
You should also see
World economy’s recovery drives Vietnam’s exports
With the recovery of the world market and increasing orders, Vietnam's import and export activities in the first quarter of 2024 prospered and achieved positive results.
See more
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Business
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
Business
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
