Vietcombank sets IPO date, share price (07/12)
06/08/2010 - 28 Lượt xem
Initial share prices have been set at 100,000 VND (6.25 USD), according to Phan Thi Tuong Tam, deputy director of the Ho Chi Minh City Stock Exchange, who also announced that the bank had submitted the official paperwork to register its IPO.
Tam cautioned, however, that the news was still tentative as she and Vietcombank leaders would hold additional discussions to finalise the initial share price and the date and time of the auction for official public announcement at the end of this year.
An announcement of Vietcombank’s forthcoming IPO has already been posted on the stock exchange’s website at www.vse.org.vn allowing brokerages to register to serve as auction agents.
A two-week registration period will begin on Dec. 6, during which investors may apply to bid on shares in the IPO and make required deposits against the quantity to shares on which they seek to bid.
According to Vietcombank’s third-quarter financial report, the bank has total assets of 186 trillion VND (1.6 billion USD), including fixed assets of 725.7 billion VND (45.5 million USD).
Total equity as of September 30, 2007, was 11.7 trillion VND (731 million USD), including charter capital of 4.4 trillion VND (275 million USD) and retained earnings of 4.75 trillion VND (297 million USD).
In the third quarter, the bank posted after-tax profits of 529 billion VND (33 million USD), a drop of 32.68 percent from the same period last year. Accumulated profit in the first nine months of the year exceeded 1.5 trillion VND (93 million USD), 26.63 percent lower than in the same period a year earlier.
Source: VietnamNews.
