Ho Chi Minh City Stock Exchange (HoSE) today (April 7) successfully organized an auction of 120 million shares of Petrolimex Joint Stock Commercial Bank (PG Bank, UpCOM: PGB), equivalent to 40% of the bank's capital of Vietnam National Petroleum Group (Petrolimex, HoSE:PLX).
The auction recorded 16 investors, including 9 domestic individual investors and 7 domestic institutional investors, registering to participate. Of which, the group of individual investors registered to buy 13.5 million shares and the institutional investors registered to buy 199.4 million shares.
The volume of orders reached nearly 213 million units, equal to 1.77 times the total amount of shares offered.
With a starting price of VND21,300/share, investors placed the lowest bid at exactly this price and the highest bid at VND21,500/share, a difference of only VND200. The lowest bid volume was only 100 shares, the highest was up to 44.9 million shares.
As a result, there were 4 winning investors, 1 individual investor and 3 organizations, with the lowest winning price being 21,400 VND/share and the highest winning price being 21,500 VND/share.
With all shares sold at an average price of over VND21,400/unit, Petrolimex has completed divestment at PG Bank and collected VND2,568 billion.
PGB stock price movement (Source: TradingView).
After the divestment, Petrolimex has no specific commitment to cooperate with PG Bank. However, both sides will have certain priority in the spirit and responsibility of investors who have been associated for over 16 years, ensuring the principle of equality within the scope of the law and specific conditions.
This auction also helped PGB shares increase for 10 consecutive sessions. In the morning session of April 7, this code continued to increase, trading at 25,000 VND/share.
Compared to the beginning of the year, this code has increased in price by more than 50% and is 17% higher than the average auction price today.
In another development, the leader of Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) said that they are considering and selecting a bank that is suitable for the development orientation to carry out the merger, helping MSB increase its scale faster. Accordingly, the MSB representative affirmed: "PG Bank is one of the banks that we are interested in" .
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