Alp Asia Finance Vietnam Limited has become ACB’s major shareholder while Hanoi-headquartered Southeast Asia Commercial Joint Stock Bank (SeAbank) has officially acquired VNPT’s finance arm.
Alp Asia Finance Vietnam becomes ACB’s major shareholder
According to a report by DealStreetAsia, the two funds Whistler Investments Limited and Sather Gate Investments Limited, wholly owned by Alp Asia Finance Vietnam Limited, have become major shareholders in Vietnam’s Asia Commercial Bank (ACB).
A disclosure to Hanoi Stock Exchange showed that Alp Asia Finance Vietnam Limited through the two funds is holding a total of 102.2 million shares of ACB, accounting for 9.95 per cent stake. Each fund held more than 51.1 million shares of ACB, equivalent to 4.97 per cent stake.
The transaction value was approximately VND5 trillion ($220 million). The number of shares was said to be transferred from Standard Chartered APR Limited and Standard Chartered Bank (Hong Kong) Limited as the bank sold its entire stake in ACB in January, bringing a 12-year partnership to an end.
According to an announcement by the Vietnam Depository Securities Centre, the StanChart subsidiaries transferred their combined 154.1 million shares in the Vietnamese bank.
SeAbank officially owns VNPT’s finance arm Hanoi-headquartered
Southeast Asia Commercial Joint Stock Bank (SeAbank) has officially acquired Post and Telecommunication Finance Company Limited (PTF), Vietnam Posts and Telecommunications Group (VNPT)’s finance arm as approved by the State Bank.
SeAbank earlier participated in an auction, which had a starting price of VND500 billion ($22 million), and surpassed another bank to become the owner of PTF. At the end of December 2017, VNPT Group officially announced the auction of PTF as part of its plan to divest non-core businesses and in the run-up to its equitization by 2019.
Founded in 1998, PTF is Vietnam’s first finance company, wholly owned by VNPT, with a charter capital of VND500 billion ($22 million).
By Quynh Nguyen