Meanwhile, in late July or early August, VPBank is set to receive over $140 million from its arrangement to sell a 15 per cent stake to Japanese partner SMBC. The bank received a deposit equal to $156 million from the Japanes bank in mid-April. Many other lenders are currently mulling over plans to sell a stake in their businesses to foreign investors, with deals values at billions of US dollars. The most eminent among those involve Vietcombank and BIDV. Vietcombank is mulling over a private placement of over 307 million shares between 2023-2024 to a foreign financier. Assuming that the purchase price is set at around $4 a share, as was the ticker price at the close of business last week, the state lender would acquire approximately $1.2 billion from any deal. Besides selling stakes in the banks themselves, many local commercial lenders are being proactive in seeking foreign funding. Similarly, BIDV is seeking to sell a 9 per cent stake equal to over 455 million … [Read more...] about Local banks seek foreign funding
Vietcombank
Shares mixed, money flows in blue chips
Investors at Bao Viet Securities Co's headquarters in Ha Noi. The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) inched down 0.27 per cent on Wednesday. — VNA/VNS Photo Shares on the two exchanges moved in opposite directions on Wednesday with cash flowing into blue chips as investors sought opportunities to purchase quality shares at favourable prices. The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) inched down 0.27 per cent to close at 1,075.17 points. The southern market’s index rose 0.3 per cent on Tuesday. Meanwhile, on the Ha Noi Stock Exchange (HNX), the HNX-Index extended its rally to six consecutive sessions with a growth of 0.67 per cent to end at 222.81 points. Buyers had the advantage in market breadth with 564 gainers and 298 losers. Within the VN30 basket (which tracks the top 30 shares by market value and liquidity on the HCM City’s exchange), 19 stocks ended lower while eight gained and three closed flat. The heightened price volatility has … [Read more...] about Shares mixed, money flows in blue chips
Top 50 public companies of 2023 sees major changes
Fertiliser products of Petro Viet Nam Ca Mau Fertilizer JSC (DCM) being processed. DPM is among the Top 50 prestigious and effective public companies of 2023 (VIX50). — Photo DPM The Top 50 prestigious and effective public companies of 2023 (VIX50), recently announced by the Vietnam Report JSC, has witnessed a significant change compared to 2022 with cautious forecasts. This list in 2023 has seen an amazing change with the spectacular performance of the banking industry. The Vinhomes Joint Stock Company, topping the list in 2022, has been plunged to the bottom of the ranking to make room for the Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank). A series of popular enterprises such as Hoa Phat, Masan, The Gioi Di Dong had to leave the Top 10 list to make room for PetroVietnam Fertiliser and Chemicals Corporation (DPM); FPT Joint Stock Company and a series of banks such as Vietnam Technological and Commercial Joint Stock Bank (Techcombank); Military … [Read more...] about Top 50 public companies of 2023 sees major changes