Another bank goes public.

After the Lunar New Year, more than 1 billion shares of Nam A Bank will be listed and traded on the HoSE stock exchange.

Nam A Bank (NamABank) has just passed a resolution to delist its shares from the Hanoi Stock Exchange (HNX) and cease trading on February 28th.

NamABank's shares are expected to be traded for the first time on the Ho Chi Minh City Stock Exchange (HoSE) on March 8th.

Since the end of 2023, NamABank has been approved by HoSE to register for listing one billion shares worth over VND 10,580 billion. Accordingly, this bank is expected to be the 20th bank to list shares on the stock exchange.

NamABank had planned to list its shares on the stock exchange for many years, but only recently realized this plan, according to the bank's leadership, due to both objective and subjective reasons.

From late 2020 to the present, NAB shares have been traded on UpCoM, the stock exchange for unlisted companies. Currently, NAB is trading at its highest price ever, nearly 16,000 VND per share.

Currently, investors trade most actively on the HoSE and HNX exchanges. HoSE has the largest market capitalization and trading volume, along with strict listing regulations, including the requirement that companies must have been profitable for two consecutive years prior to listing. UPCoM, on the other hand, typically comprises shares of companies that are not yet registered or do not meet the requirements for listing on HoSE or HNX.

Besides NAB, shares of 7 other banks are also trading on UpCoM, including BVB, ABB, PGB, VAB, SGB, KLB, and VBB.

NamABank is a bank with assets of nearly 210,000 billion VND, placing it among the top 20 banks with the largest assets. Last year, its pre-tax profit increased by over 45% to a record high of 3,300 billion VND. The non-performing loan ratio rose from 1.6% at the beginning of the year to over 2.1% at the end of last year, amidst the overall downturn in the banking industry.

According to the bank's leadership, since last year, Nam A Bank has been strengthening its senior management team to help the bank operate more transparently and efficiently. The current Board of Directors of Nam A Bank includes Chairman Tran Ngo Phuc Vu, two Vice Chairmen Tran Ngoc Tam and Vo Thi Tuyet Nga, two other board members Nguyen Duc Minh Tri and Nguyen Thi Thanh Dao, and independent member Le Thi Kim Anh.

The chairman and management of NamABank currently own little to no shares in the bank. The only major shareholder shown in the bank's governance report, holding more than 5% of the voting shares, is Pacific Dragon Company Limited.

Quynh Trang

Source link