KienlongBank withdraws application to list shares on HOSE

The reason for withdrawing the application that KienlongBank stated was that market developments were not favorable for listing and shareholder benefits.

KienlongBank withdraws application to list shares on HOSE

NT

According to KienlongBank, the bank will report to the General Meeting of Shareholders (GMS) at the nearest meeting on this content and submit to shareholders the plan to continue listing shares at a time when the market is more favorable and positive.

KienlongBank's Board of Directors authorized General Director and Board member Tran Ngoc Minh to carry out procedures to complete the withdrawal of the KLB stock listing registration dossier at HOSE. At the same time, he is responsible for negotiating and liquidating the KLB stock listing consultancy contract signed by KienlongBank with Nhat Viet Securities JSC.

Previously, HoSE announced that it had received KienlongBank’s listing registration dossier with a volume of 365.3 million shares. At the same time, the State Bank approved KienlongBank to increase its charter capital from VND3,652 billion to VND4,231 billion.

KLB shares are currently trading on the UPCoM market at VND12,200/share, down nearly 70% from the peak in March 2022. As of September 30, 2022, KienlongBank's total capital mobilization reached VND73,135 billion, equivalent to 94% of the plan, of which customer deposits alone reached VND42,225 billion. The bank's total assets reached VND80,625 billion, achieving nearly 95% of the plan. Total outstanding credit balance reached VND41,856 billion, equivalent to 92% of the plan. The bad debt ratio continued to be controlled at nearly 1.25%. In the first 9 months of the year, KienlongBank's pre-tax profit reached VND513 billion - completing nearly 79% of the year's profit plan.

Source: https://thanhnien.vn/kienlongbank-xin-rut-ho-so-niem-yet-co-phieu-tren-hose-1851542445.htm