Nearly 1,175 billion shares of Vietnam Maritime Commercial Joint Stock Bank (MSB) are listed on the Ho Chi Minh City Stock Exchange (HOSE) on December 23, 2020 with the reference price for the first day of trading at VND15,000/share and amplitude of +/- 20%.
The bank’s market capitalization at the time of listing is around VND 17,600 billion. In the most positive scenario, the market cap of the bank might reach over VND 21,100 billion on the first trading day.
Within 2020, MSB has become the first bank to list a new listing on HoSE.
According to MSB, the bank expects that after the listing, it will offer more than 82.5 million treasury shares to existing shareholders at the price of VND11,500. State Securities Commission already approved the plan by the end of November. MSB plans to collect about VND950 billion from this offering. The remaining 18 million treasury shares will be used to sell or reward employees.
MSB is one of the leading commercial banks in Vietnam with good business performance, in the first 11 months of 2020, the bank recorded pre-tax profit of more than VND2,300 billion, up 116% over the same period and 60% higher than its plan. Total assets of the bank increased by 13% to over VND166,000 billion.
The year 2020 is the deadline for joint stock commercial banks of Vietnam to list on the stock markets, under the project “Restructuring the stock market and insurance market to 2020 and orientations to 2025”.
Under legal pressure, smaller banks have started listing on UPCoM (such as Viet Capital Bank, Nam A Bank) in 2020. Besides, there are also larger banks that plan to list directly. on HoSE (such as OCB, MSB, SeABank) at the end of 2020 or early 2021.
Notably, even banks that are not under legal pressure because they have been listed on the HNX such as SHB, ACB or traded on UPCoM such as VIB, LienVietPostBank have been changing exchanges.
Accordingly, on 9/11, LienVietPostBank brought nearly 979 million shares listed on HoSE. With a price of over 12,000 VND / share, LPB has a market capitalization of about 11,700 billion VND (equivalent to about 500 million USD).
Vietnam International Bank (VIB) also listed more than 924 million shares on HoSE with reference price of 32,300 dong / share. VIB became the 12th bank on the HoSE with a market capitalization of nearly 30,000 billion dong (equivalent to about 1.3 billion USD).
On December 9th, more than 2.16 billion Asia Commercial Bank (ACB) shares were officially listed on the HoSE with the listing price of 26,400 VND / share. The market capitalization value accordingly stood at over 57,000 billion VND when listed on the stock exchange and has now exceeded 60,000 billion VND.