Vietnam Export Import Commercial Joint Stock Bank (Eximbank - HoSE: EIB) has just announced the Resolution of the Board of Directors approving the implementation of the plan to sell nearly 6.1 million treasury shares for the purpose of supplementing business capital.
Before the transaction, Eximbank owned nearly 6.1 million shares. Thus, this is the total number of treasury shares that Eximbank is holding, purchased from January 2, 2014 to January 16, 2014.
The expected transaction time is after the State Securities Commission announces receipt of full documents reporting the sale of treasury stocks and Eximbank discloses information according to regulations. The transaction period shall not exceed 30 days from the date of commencement of the transaction.
EIB stock price movements over the past month (Photo: TradingView).
Accordingly, the stock sale transaction is expected to take place from December 2023 to January 2024 with the selected method being order matching on HoSE. The number of daily buy/sell orders is prescribed in Clause 3, Article 8, Circular 123 of the Ministry of Finance .
Specifically, on each trading day, the total minimum selling volume is 3% and the maximum is 10% of the total registered trading volume. The selling price is determined according to the market price, in compliance with the regulations of the Ministry of Finance and the regulations of HoSE.
The Board of Directors of Eximbank assigns the General Director/Acting General Director to implement the contents of the Resolution. In addition, the average target selling price is not lower than VND 20,199/share (calculated according to the average mobilization interest rate from 2014 to 2023). With the above price, Eximbank estimates to collect at least VND 123 billion.
On the stock market, at the end of the trading session on December 12, EIB shares stood still at 19,000 VND/share with a trading volume of more than 13.2 million units .
Thu Huong
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