Techcombank locks foreign ownership ratio at 22.5 per cent

June 09, 2021 | 20:52

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The Ho Chi Minh City Stock Exchange (HSX) has just announced that the Hanoi-based commercial bank Techcombank confirmed setting its foreign ownership limit at 22.4908 per cent.

techcombank locks foreign ownership ratio at 225 per cent

On June 7, Techcombank notified the Vietnam Securities Depository (VSD) and HSX to lock the maximum foreign ownership limit at 22.4908 per cent. This is also the current foreign ownership ratio of the bank.

The Techcombank Board of Directors has issued a resolution on the issuance of shares to employees under the Employee Stock Ownership Plan (ESOP).

Specifically, the lender plans to issue more than six million ESOP shares, 705.367 shares of which are issued to foreign employees and more than 5.3 million shares issued to Vietnamese employees. The ratio of issued shares to total outstanding shares is 0.1714 per cent.

The par value of shares reached VND10,000 (43 US cents). ESOP shares are restricted from being transferred within one year. The plan is expected to be executed in 2021 right after Techcombank receives approval from the State Bank of Vietnam (SBV) and the State Securities Commission.

Criteria and subjects to buy ESOP shares are employees who meet the criteria and conditions of working at Techcombank as well as Techcombank's subsidiaries and affiliates.

In November 2020, Techcombank also issued 4.7 million ESOP shares.

By Lam Tien

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