Chairman of Vietnam Bank registers purchase of 7 million VBB shares

It is expected that based on current market prices, the chairman of the Bank of Vietnam will spend more than 75 billion VND to complete the transaction. According to the Hanoi Stock Exchange (HNX), Mr. Duong Nhat Nguyen, Chairman of the Board of Directors of Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank, UPCoM: VBB), has just registered to purchase 7 million VBB shares at the capital increase rate and bank ownership.

This transaction is expected to be conducted by agreement or order matching from January 9, 2024 to February 7, 2024.

Prior to the transaction, Mr. Nguyen held 16.051 million VBB shares, equivalent to 3.36%. If the transaction is successful, the chairman of Vietnam Bank will increase his stake in the bank to 23.051 million shares.

On the stock market, VBB shares closed at VND 10,800 per share at the end of the trading session on January 5. Based on this price, Mr. Nguyen will need to spend approximately VND75 billion to purchase the above stocks.

In related developments, on January 4, the Board of Directors of the Bank of Vietnam also announced the third phase of the public issuance of 100,000 bonds, equivalent to 1 trillion VND.

Such bonds are non-convertible, do not contain warrants, and have no collateral. Each bond has a face value of VND 10 million, a term of 7 years, and interest is paid regularly every year.

>> Vietnam Bank issues more than 100 million VBB shares, increasing registered capital to VND 5,780 billion