Three individuals spend roughly US$282.5 million to purchase VPBank shares

By Lan Huong - Sep 21, 2017 | 06:07 PM GMT+7

TheLEADERVPBank offered additional shares of which each is priced at VND39,000 (approximate US$1,72), about 4% higher than market price.

Three individuals spend roughly US$282.5 million to purchase VPBank shares
Source: VPBank

Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) said that the bank has just completed the issuance of more than 164 million shares for three individuals including Le Viet Anh, Nguyen Phuong Hoa and Tran Ngoc Lan.

They spent VND6,423 billion (US$282.5) to buy these shares. Previously, these 3 individuals held nearly 20 miilion shares of VPBank and now, they owned nearly 182 million shares, equivalent to 11.58% of VPBank shares.

This is a release that VPBank had a plan from the beginning of 2017. After this issuance, VPBank's charter capital has increased to VND15.7 trillion (more than US$690 million).

According to the prospectus posted in July, the leaders and related persons of VPBank announced that they own nearly 30% of the bank's shares.

Foreign investors own about 22% of the bank's shares upon initial listing. VPBank recently announced that it would issue a 5% of its stake to convert the US$57 million debt to IFC. Currently, the foreign ownership of this bank is about 26%.

Two large fund management companies in Vietnam, VinaCapital and Dragon Capital, both hold VPBank's shares. Specifically, VEIL's Dragon Capital owns about US$900 million worth of VPB shares while VEF's Vincom Capital holds about US$10 million.