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Finance ministry affiliate to divest from Maritime Bank (MSB)

Jun 14th at 08:05
14-06-2019 08:05:35+07:00

Finance ministry affiliate to divest from Maritime Bank (MSB)

The Vietnam Debt and Asset Trading Corporation will auction a 0.34 percent stake in Maritime Bank this month.

 

The firm (VATC), under the Ministry of Finance, will auction 4.03 million shares at VND11,800 (51 cents) per share next Tuesday at the Hanoi Stock Exchange (HNX), the bourse has announced.

Maritime Bank (MSB) has a charter capital of VND11.75 trillion ($503 million), which increased 2.3 times after it merged with the Mekong Development Bank in 2015.

Last year, Maritime Bank earned VND868 billion ($37 million) in after tax profit, up seven times from 2017.

The creditor plans to list on the Ho Chi Minh City Stock Exchange (HoSE), the country’s main bourse, in the third quarter this year.

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