JSC Bank for Foreign Trade of Vietnam (Vietcombank) has successfully divested its shares from the Saigon Bank For Industry and Trade (Saigonbank) and the Cement Finance Company (CFC) with the total amount of more than VND342 billion (roughly US$15.096 million).
On November 20, Vietcombank offered more than 13.2 million shares of Saigonbank, equivalent to 4.3 per cent of the capital held by Vietcombank, to the public at the starting price of VND12,550 (roughly US$0.553) per share.
The auction attracted 20 investors, including 19 individuals and an organization. The number of shares registered to buy reached more than 53.8 million shares, 4.1 times higher than the volume of shares offered.
The highest bid was VND20,100 (roughly US$0.886) per share, and the lowest bid was VND12,550 (roughly US$0.553) per share. The total value of shares sold reached over VND266.3 billion (roughly US$11.744 million), VND100 billion higher than the value calculated at the starting time.
On the same day, Vietcombank offered 6.6 million shares of CFC to the public at a starting price of VND11,549 (roughly US$0.51) per share, totaling over VND76 billion (roughly US$3.352 million). There were nine individual investors registered to participate in the auction.
Accordingly, Vietcombank attained more than VND342 billion (roughly US$15.096 million) in these two auctions. This amount of money will be included in the gross profit of the Bank's investments.
Currently, Vietcombank is leading the banking market in terms of profitability and is ranked the sixth-largest corporate income taxpayer in Vietnam.
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