Maritime Bank shares to be traded on Vietnam's main bourse from Dec. 23

Xuan Thinh Tuesday | 12/22/2020 11:38

The logo of Maritime Bank. Photo courtesy of Maritime Bank.

Maritime Bank plans to list 1.17 billion shares on the Ho Chi Minh City Stock Exchange on December 23 at the reference price at VND15,000 ($0.64) apiece, according to exchange filing.

The Vietnamese lender, formally Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB), is expected to have the market capitalization of VND17,600 billion ($758 million) at the time of listing.

The bank leaders first mentioned the public listing at a shareholders’ meeting in 2016. In 2017, just 3 percent of shareholders approved the listing because the stock price was too low, but the ratio rose to over 99 percent last year, VnExpress reported.

The Vietnam Posts and Telecommunications Group (VNPT) is the largest shareholder, holding more than 71.5 million shares, accounting for 6.09 percent.

As of November 17^th, domestic shareholders hold 62.26 percent stake, equivalent to 731.6 million shares, while foreign investors holds 29.18 stake of the bank.

Currently, MSB has more than 100.5 million treasury shares. Recently, it announced to issue shares to the public. The total number of shares offered to existing shareholders in this phase is 82.5 million treasury shares. The issue price is at VND11,500 apiece.