ABBank to go public on UPCoM

December 21, 2020 | 19:14
Ho Chi Minh City-based privately-held lender ABBank is going to file for an initial public offering on the UPCoM.
abbank to go public on upcom

ABBank is going to file for an IPO on UPCoM

ABBank has just received certifications of registered securities and ticker from the Vietnam Securities Depository for its upcoming initial public offering (IPO) on UPCoM.

Accordingly, ABBank will have the ticker code ABB and will list around 571 million shares, equivalent to a market cap of VND5.713 billion ($248.4 million).

According to its financial statements from the third quarter of 2020, the bank currently has a total asset value of VND93.176 trillion ($4.05 billion), down more than 9 per cent compared to the beginning of the year. Customer loans increased by 3.8 per cent since the beginning of the year while customer deposits increased by 3.9 per cent.

In the first nine months of this year, ABBank recorded a pre-tax profit of around VND946 billion ($41.13 million), up 6.3 per cent over the same period last year.

At the end of September, ABBank appointed Le Hai as general director. Peviously, Hai was deputy general director since April 2020. Since 2018, the bank has had five CEOs, namely Cu Anh Tuan, Nguyen Manh Quan, Duong Thi Mai Hoa, Pham Duy Hieu, and now Le Hai.

By Lam Tien

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