Eximbank awaits SSC ruling on buy-back

Nov 8th at 13:23
08-11-2013 13:23:54+07:00

Eximbank awaits SSC ruling on buy-back

Eximbank planned to buy back nearly 61.78 million shares, equivalent to 5 per cent of its total common shares, bank chairman Le Hung Dung said on Tuesday.


The bank would use capital from its share holdings, development reserves and undistributed profits for the repurchase.

It has authorised Viet Dragon Securities Co as an agent for share trading.

Dung said the bank was waiting for a response from the State Securities Commission to fix the time for the transactions, adding that it would hold the repurchased shares for six months to five years.

Eximbank shares are being traded at about VND13,500 (US$0.65) per share on the HCM City bourse. This means the bank is expected to spend VND830 billion ($39.52 million) on the re-acquisition.

The bank has not yet announced third-quarter business results, but a recent Bao Viet Securities Co report estimated its pre-tax profits would be about VND447 billion ($21.28 million), a 21 per cent decline over the same period last year.

The report said Eximbank had stable asset quality and a high capital security level, and its lending situation was expected to improve with acceleration in loans for importers/exporters, small traders and individual customers.

Recent changes in key personnel, an increase of Eximbank equity in Sacombank to more than 10 per cent, plus large put-through transactions carried out in September, could affect management and business plans. The report added that this was an unknown factor that required investor attention.

Bad debts were estimated to account for 1.56 per cent of Eximbank's total outstanding loans at the end of Q3, according to the brokerage.



Food firm Ma San sells 4 pct stake to a foreign fund

Food producer Ma San Group has sold a 4 percent stake worth 297.7 billion dong ($14 million) to the Vietnam Resource Investments fund, the Lao Dong (Labour)...

VN Airlines to sell 2.7% stake in bank

The national carrier Vietnam Airlines will sell more than 24 million shares it is holding in Techcombank on December 2, announced the Ha Noi Stock Exchange.

Thu Duc Water falls in Vietnam after Vinamilk sells entire stake

Thu Duc Water Supply JSC, a Vietnamese water utility, slumped the most in five months after Vietnam Dairy Products Joint-Stock Co. sold its stake in the company.

Chief VCSC stakeholders divesting

Nguyen Thanh Phuong, chairwoman of Viet Capital Securities (VCSC)’s board of management, recently had her holding ratio cut down from 11.44 percent to 9 percent.

VF1 to become open-ended fund

The investors of the Viet Nam Securities Investment Fund (VFMVF1) decided to convert from a closed-end fund to an open-end fund at an extraordinary investors'...

BHT: Results of General Meeting of Shareholders 2013

Bach Dang TMC construction investment Joint Stock Company has disclosed the results of its General Meeting of Shareholders. The following resolutions were approved:

Dang Thanh Tam’s wife to offload 14.8 mln NVB shares

Nguyen Thi Kim Thanh, the wife of National Assembly deputy cum famous businessman Dang Thanh Tam, has registered to sell over 14.82 million shares of Nam Viet...

SCR: Notice of transaction of Directors, PDMR (Dang Hong Anh)

Sai Gon Thuong Tin Real Estate JSC (HNX: SCR) announced the Notice of transaction of Directors, PDMR (Dang Hong Anh) as follows:

SEB: Result of transaction of treasury shares

Mien Trung Power Investment and Development JSC (HNX: SEB) announced the Result of transaction of treasury shares as follows:

SD6: Notice of transaction of connected person ( Dao Van Tan)

Song Da No.6 JSC (HNX: SD6) announced the Notice of transaction of connected person ( Dao Van Tan) as follows:



Back To Top