Foreigners to hold more shares in military bank
Foreigners to hold more shares in military bank
Foreign investors can hold more shares in the Military Bank Commercial Joint Stock Bank (MBB) from October 8, the Vietnam Securities Depository said on October 1.
The number of shares they can hold has been increased by 33 per cent.
Accordingly, foreign investors can own up to 160 million shares, up from 120 million shares currently.
However, the percentage of foreign holding in the bank is still the same, with the maximum being a 10 per cent stake.
The share holding by foreigners has been increased due to the recent issuance of an additional 390.6 million shares in a public offering in September. After the sale, MBB received VND4.28 trillion ($190.41 million) in total, raising its capital to reach VND16 trillion ($711.84 million).
Viettel owns a 15 per cent stake in MBB, while State Capital Investment Corporation (SCIC) owns 10 per cent, Maritime Bank 8.84 per cent and Saigon Newpport Corporation 7.65 per cent, besides Vietcombank's 7.16 per cent and Viettel Import Export Limited Company's (Viettelimex) 4.64 per cent stake.
MBB is now the sixth largest bank in terms of assets in Viet Nam. Its shares ended at VND15,200 ($0.67) on the HCM City Stock Exchange on October 1.
