Foreign fund purchases 54mn shares at Vietnamese bank
Foreign fund purchases 54mn shares at Vietnamese bank
Pyn Elite Fund, one of the largest foreign funds in the Vietnamese stock market, has revealed that it purchased 54 million shares of Vietnam International Commercial Joint Stock Bank (VIB), equivalent to 1.8 percent of the bank’s charter capital, at VND1.1 trillion (US$43.2 million).
Each VIB share was traded at nearly VND21,000 ($0.8) at the close of the trading session on March 7, 2025. Photo: Quang Dinh / Tuoi Tre |
The purchase was made after the Commonwealth Bank of Australia (CBA) divested its stake in the bank.
This investment is currently the largest component in the foreign fund's portfolio, accounting for six percent.
The fund has a preference for investing in bank stocks, as it holds shares of Sacombank, MBBank, TPBank, and VietinBank.
Earlier, CBA divested its investments in Indonesia, China, and Vietnam following a request to withdraw from overseas businesses of the Reserve Bank of Australia.
CBA became a strategic investor in VIB in 2010, initially holding a 15-percent stake, which was later increased to 19.8-percent.
However, starting in September last year, the Australian bank began reducing its stake in VIB. By March 5 this year, CBA terminated its role as a strategic shareholder in the bank.
Pyn Elite Fund closely monitored CBA’s actions and successfully purchased 42 percent of the total shares offered for sale.
VIB, led by Dang Khac Vy, was established in 1996 and initially had a charter capital of VND50 billion ($2 million) and 23 employees.
By the end of 2024, the bank had a total of 11,323 employees and a charter capital of VND29.793 trillion ($1.2 million).
VIB has updated its list of shareholders owning at least one percent of its charter capital. ACB Securities Co. Ltd. owns nearly 30 million VIB shares, equivalent to one percent of the bank's charter capital.
- 14:00 09/03/2025
