Lien Viet Post Commercial Bank ( LPBank – HoSE: LPB) is implementing steps in its plan to privately issue 300 million shares to foreign investors, increasing their maximum ownership to 15.5% from 5%.
Accordingly, the specific offering period will be decided by the bank's Board of Directors after approval by the competent State authorities. Shares offered to foreign investors will be subject to a 3-year transfer restriction for strategic investors and a 1-year transfer restriction for professional securities investors.
In addition, Ho Chi Minh City Development Commercial Bank (HDBank – HoSE: HDB) also plans to allocate 10% of its foreign ownership limit for a capital increase through share issuance.
At a meeting with investors last February, Mr. Hoang Thanh Tung, Director of the Investor Relations Department of HDBank, shared that the bank had made the necessary preparations for a strategic partner, reserving approximately 10% of its foreign ownership limit for a capital increase issuance.
Accordingly, the plan to sell capital to strategic investors is entirely feasible when market conditions are favorable and the bank finds suitable partners. Mr. Tung also stated that, over the past period, HDBank has received interest from several foreign partners from South Korea, Europe, and the United States.
The selection of investors for capital increase issuance and the attraction of strategic shareholders are always part of the bank's strategy to enhance its financial capacity to meet growth needs, while ensuring capital adequacy and liquidity targets.
In July 2023, the Board of Directors of Southeast Asia Commercial Joint Stock Bank (SeABank – HoSE: SSB) also approved a plan to privately issue up to 94.6 million additional shares, equivalent to 4.6366% of the outstanding shares, to be offered to a professional securities investor, expected to be Norfund (The Norwegian Investment Fund for developing countries).
SeABank has set a price no lower than the book value in its audited 2022 separate financial statements of VND 12,861 per share. The highest expected offering price is VND 37,032 per share. The specific offering price will be decided by the Board of Directors and will depend on the negotiation and agreement process with investors. Shares offered in this private placement will be subject to a minimum one-year transfer restriction from the date the offering is completed.
However, in November, the bank decided to halt the private placement of shares as per Resolution No. 271 dated May 8, 2023, and Resolution No. 422 dated July 3, 2023, of the Board of Directors. The reason given was based on the current situation.
At the end of March 2023, Vietnam Prosperity Commercial Bank (VPBank – HoSE: VPB) also signed an agreement to privately issue 15% of its charter capital to SMBC Bank of Japan (part of the SMFG financial group). Following this agreement, SMBC Group officially became a strategic investor in VPBank.
This has become the largest share issuance to strategic shareholders in the history of Vietnam's banking industry, with a total value of up to $1.5 billion.
In addition, according to the plan, Vietnam Foreign Trade Commercial Bank (Vietcombank – HoSE: VCB) will also conduct a private placement for foreign investors in the period 2023 - 2024.
Previously, in 2019, the bank had announced a plan to privately offer 6.5% of its shares to foreign partners, but this was not completed. Specifically, the bank planned to privately offer 307.6 million shares to Mizuho Bank (46.1 million shares) and other investors (261.4 million shares) .
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