Banks announce upcoming divestment plans

Vietcombank will auction 6.6 million shares worth VND66 billion, equivalent to 10.9 per cent of the charter capital of the Cement Finance Joint Stock Company (CFC) on the Ha Noi Stock Exchange on November 20. - Photo viettimes.vn

According to an announcement on the exchange, on November 21, OceanBank will sell four million shares equivalent to a capital contribution of VND40 billion (US$1.7 million), or 8 per cent of outstanding shares of the Petroleum Vietnam-SSG Real Estate Joint Stock Company, at an initial price of VND10,638 per share.

The Petroleum Vietnam-SSG (PV-SSG) Real Estate Joint Stock Company, formerly known as the Petroleum Housing Service Trading, Construction and Investment Company, was jointly established by PetroVietnam and the SSG Group.

Currently, SSG Group holds the controlling stake at PV-SSG, with 81.2 per cent of shares. OceanBank’s stake is 8 per cent and FECON Infrastructure Joint Stock Company’s stake is 6 per cent.

On Thursday, the HNX also announced that there are five investors who have registered to buy 4.26 million shares of the Petroleum Vietnam-SSG. Among them, one is institutional investor who wants to buy four million shares.

On November 20, the Bank for Foreign Trade of Viet Nam (Vietcombank) will also auction 6.6 million shares worth VND66 billion, equivalent to 10.9 per cent of the charter capital of the Cement Finance Joint Stock Company (CFC) at an initial price of VND11,549 per share.

As of Wednesday, there were nine individual investors registering to buy 6,671,000 shares of CFC.

In a similar move, the Vietnam Agricultural and Rural Development Bank (Agribank) will divest its capital contributed to the Vietnam Agriculture Trade and Tourism Joint Stock Company and the Vietnam Agribank Gold Corporation Joint Stock Company on December 15.

Agribank will sell 5.29 million shares of the tourism company at an initial price of VND18,990 per share and 12,615,440 shares of the gold company at VND13,900 per share.