Korea Investment Management raises ownership in Military Bank to 1.3%

With the additional shares, the investment fund owns 32 million after completing the $27-million deal, according to statement of the Military Commercial Joint Stock Bank (HoSE: MBB).

The Vietnamese lender, which successfully issued 64.31 million shares, to eight investors at VND27,000 ($1.14) each, bagged more than VND1,736 billion ($73 million) after the issuance. The price is 27% higher than market price.

Beside MB Bank, Fiera Capital Emerging Markets Fund bought 15.3 million shares, raising ownership to 20.5 million shares, equivalent to 0.84% stake at the bank.

TMAM Vietnam Equity Mother Fund purchased 10.8 million shares. Franklin Templeton Investment Funds purchased over 4 million shares. Vietnam Growth Stock Income Mother Fund purchased of 3.7 million shares, while KITMC Worldwide Vietnam RSP Balance Fund bought 2.6 million shares.

Previously, MB Bank successfully sold 21.4 million treasury shares to 8 above investors.

KIM Vietnam Growth Equity is a member fund of Korea Investment Trust Management, one of Korea's leading fund management company. This group has appeared in Vietnam since 2006 with large investments in Nam Kim, Coteccons, Dat Xanh, Gemadept.

► Military Bank to sell 211 million shares via private placement