Eximbank shares continue to be accumulated?

During the trading session on October 14th, investors sold over 100 million Eximbank shares.

Early on October 14th, the market received rumors that the Supervisory Board of Vietnam Export Import Commercial Bank (Eximbank - stock code EIB) had sent a document containing recommendations and feedback to relevant authorities regarding the bank's unsafe lending practices.

Immediately, many investors felt uneasy and sold off Eximbank shares aggressively, causing the bank's share price to drop from 19,150 VND to 17,850 VND (-5.8%) during the morning session, dragging down the prices of many other bank stocks.

Entering the afternoon session, although the rate of price decline slowed somewhat, sellers continued to refrain from holding Eximbank shares, while buyers aggressively accumulated them.

At the close of trading, Eximbank shares fell by 850 VND/share (-4.45%), with a buy order surplus of 219,700 shares and a sell order surplus of 25,500 shares; the volume of matched transactions reached over 42.67 million shares, equivalent to a value of 778 billion VND; the volume of negotiated transactions reached 57 million shares, equivalent to a value of 1,049 billion VND.

Thus, in the October 14th trading session, large investors spent a total of 1,827 billion VND to acquire over 100 million Eximbank shares. From this, small investors speculate that in the next trading session (October 15th), the major players in the securities market will not stop accumulating Eximbank shares.

Regarding the above information, an Eximbank leader stated that the bank had checked and had not received any written petitions or complaints related to lending activities from the Eximbank Supervisory Board.

Meanwhile, information that investors are very interested in is that the bank plans to move its current headquarters to a different location in the near future.

Specifically, Eximbank will hold its 2024 Extraordinary General Meeting of Shareholders on November 28th in Hanoi , but has not yet announced the specific location. The new location chosen for its headquarters has also not yet been announced by Eximbank.

However, according to regulations, 21 days before the extraordinary general meeting of shareholders, Eximbank must announce the address, reasons, and impacts of relocating its head office to a new location so that shareholders are aware and can vote to approve or disapprove.

The changes at Eximbank occurred after a new shareholder – Gelex Group Joint Stock Company (a company headquartered in Hanoi) – became a major shareholder of the bank, holding 10% of the shares.

In addition, some members of Eximbank's Board of Directors were formerly leaders of businesses based in the northern region.

Previously, at the annual shareholders' meeting in April 2024, Eximbank submitted a proposal to relocate its head office from the 8th floor of Vincom Center, 72 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, to the Fideco Center office building at 28 Phung Khac Khoan Street, Da Kao Ward, District 1. However, this proposal was not approved by the shareholders' meeting.

Source: https://nld.com.vn/chung-khoan-ngay-mai-15-10-co-phieu-eximbank-tiep-tiep-bi-thu-gom-196241014170832757.htm