VNPT plans complete divestment from MSB

VNPT plans complete divestment from MSB

With a reserve price set at VNĐ18,239 per share, representing 1.4 times the current market price, VNPT is expected to raise at least VNĐ3.44 trillion ($128.9 million) from the auction.

Customers at a transaction office of VNPT. — Photo vietnamplus.vn

Vietnam Posts and Telecommunications Group (VNPT) plans to auction its entire holding of 188.7 million shares in Vietnam Maritime Commercial Joint Stock Bank (MSB), equivalent to just over 6 per cent of the bank’s charter capital, on December 26 as part of its mandated restructuring roadmap.

The divestment is being carried out to comply with Prime Minister Phạm Minh Chính’s decision on VNPT’s restructuring plan, which requires the group to reduce ownership to below 50 per cent or fully divest from 26 subsidiaries and associated companies, including MSB, by the end of this year. 

With a reserve price set at VNĐ18,239 per share, representing 1.4 times the current market price, VNPT is expected to raise at least VNĐ3.44 trillion (US$128.9 million) from the auction.

The sale is open to both domestic and foreign institutional and individual investors.

According to VNPT’s consolidated financial statements for 2024, the group held more than 157 million MSB shares, equivalent to 6.05 per cent of the bank’s charter capital, with a carrying value of VNĐ580 billion and a fair value of more than VNĐ1.83 trillion at the end of the year.

The volume increased further in 2025 after MSB issued shares to pay a 20 per cent stock dividend, although the book value of VNPT’s investment remained unchanged. 

VNPT has been a founding shareholder of the bank since its establishment in 1991. The group has previously attempted to exit the bank several times but was unable to complete the divestment.

The telecommunications giant is also preparing to divest from several other companies, including VTC Telecom, Construction Investment and Telecommunications Infrastructure Development and Joint Stock Company for Telecom and Informatics, in line with its broader restructuring obligations. 

In the first nine months of the year, MSB recorded VNĐ4.76 trillion in profit before tax while total assets reached VNĐ356 trillion, up 11 per cent from the end of last year. 

Bizhub