OCB to list over 1 bln shares on HOSE at $0.99 apiece

Xuan Thinh Friday | 01/15/2021 21:58


Orient Commercial Bank is expected to make debut on Ho Chi Minh Stock Exchange on January 28, offering over 1 billion shares at VND22,900 ($0.99) apiece, according to exchange filing.

In the first 11 months of 2020, the Vietnamese lender recorded a strong growth in revenue, profit.

As of end-November, OCB's total assets grew 13 percent from end-2019 to VND133,923 billion ($5.78 billion), equity increased sharply by 47 percent to VND16,969 billion ($733 million).

The bank recorded the cumulative pre-tax profit by the end of November at VND3,830 billion ($166 million), up 30 percent year-on-year and 18 percent higher than 2019 profit.

In October, the bank was approved to increase charter capital to VND10,959 billion ($474 million) through the share dividend at the rate of 25 percent.

OCB is expected to continue to issue more than 31.6 million shares to domestic and foreign investors in the first quarter of 2021.

► OCB gets approval to list 1 billion shares on exchange

► Vietnam’s OCB to sell 11% shares to Japan’s Aozora Bank

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