Major shareholder, son of chairman, spends trillions of dong to buy MBB and VPB shares.

SCIC Investment Company Limited - a subsidiary of the State Capital Investment and Business Corporation - has registered to purchase an additional 3 million shares of Military Commercial Bank (stock code MBB) for financial investment purposes. The transaction will be conducted through order matching and negotiated transactions, between September 26th and October 24th.

Currently, the company owns 1.38 million MBB shares, equivalent to 0.0265%. After the transaction, the company is expected to hold 4.38 million shares, equivalent to an ownership stake of 0.084%. MBB shares are currently priced at VND 18,500. Therefore, to purchase an additional 3 million shares as registered, SCIC Investment Company will have to spend more than VND 55 billion. Meanwhile, as of the end of Q2 2023, the State Capital Investment and Business Corporation (SCIC) owned more than 427 million MBB shares, equivalent to a 9.43% stake.

The son of the VPBank Chairman has registered to buy 70 million shares.

Notably, an individual, Mr. Ngo Chi Trung Johnny, has registered to purchase 70 million VPB shares of Vietnam Prosperity Commercial Bank (VPB) for investment purposes. The transaction is expected to take place from October 2nd to November 1st through order matching and negotiated transactions. Currently, Mr. Ngo Chi Trung Johnny does not own any VPB shares. If the transaction is completed, he will hold 1.04% ownership in VPB. With VPB shares currently priced at 21,700 VND, it is estimated that this individual will have to spend over 1,500 billion VND to purchase the full registered quantity of shares.

Johnny Ngo Chi Trung is the son of Ngo Chi Dung, Chairman of the Board of Directors of Vietnam Prosperity Commercial Bank (VPBank). Currently, Mr. Ngo Chi Dung holds over 385 million VPB shares, equivalent to a 4.87% ownership stake. According to the bank's first six-month management report, the wife and mother of the VPBank Chairman also hold 326.7 million and 325.9 million shares respectively. The total shareholding of the group of shareholders related to Chairman Ngo Chi Dung is equivalent to more than 10.6% of VPBank's capital.

These developments have a positive impact not only on MBB and VPB shares but are also expected to contribute to the overall positive trend in the banking sector in the coming period. Furthermore, many securities companies forecast that the banking sector's profits will be more favorable in 2024, so the prospects for profitability of this group of stocks are likely to increase...

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