The stock market is quiet, why are bank bosses still racing to buy and sell stocks?

(NLDO) – The stock market on November 5 continued to be gloomy, but banking stocks had positive developments as many leaders were busy registering to buy and sell.

Mr. Ho Van Long, Deputy General Director and Chief Financial Officer of Vietnam International Bank (stock code: VIB ), has just registered to buy 3 million VIB shares to increase investment in valuable assets. The transactions are expected to be carried out from November 7 to December 6, 2024.

VIB shares have been traded busily recently.

If the transaction is successful, Mr. Long will hold about 14.53 million VIB shares (not including 1.96 million bonus shares for existing shareholders at a rate of 17% and nearly 150,000 bonus shares under the employee selection program in the company waiting to return), corresponding to a 0.573% ownership ratio at VIB.

A few days ago, Commonwealth Bank of Australia (CBA) announced that it had sold about 10% of VIB International Bank’s shares (about 300 million VIB shares) through the Ho Chi Minh City Stock Exchange (HoSE). With this deal, VIB’s strategic shareholder earned about AUD 320 million, equivalent to more than VND 5,300 billion.

Currently, VIB shares are trading at VND 18,600/share, up 0.54% compared to the previous session.

At the Vietnam Export Import Bank (Eximbank), recently Ms. Tran Thi Thanh Nha - wife of Mr. Ngo Tony, Head of Eximbank's Board of Supervisors, registered to sell 123,298 EIB shares from October 30 to November 8 to recover capital.

Ms. Nha plans to sell all the shares she holds by order matching. EIB's current share price is VND19,400/share, up 3.47% compared to the previous session.

Another bank that has just announced transactions of insiders and related parties of insiders is Southeast Asia Bank ( SeABank ).

The stock market has continued to fluctuate around 1,240 points over the past few days.

Accordingly, Mr. Le Huu Bau, husband of Ms. Nguyen Thi Nga - Permanent Vice Chairman of the Board of Directors of SeABank, successfully sold more than 43.7 million SSB shares by negotiation on October 24.

Before the transaction, Mr. Bau owned nearly 94.4 million SSB shares, equivalent to 3.329% of the bank's charter capital.

SSB stock price is currently at VND16,550/share, down 0.9% compared to the previous session. It is estimated that at this price, Mr. Bau will earn about VND720 billion from selling SSB shares.

Currently, Ms. Nguyen Thi Nga is holding 111.5 million SSB shares, equivalent to 3.936% of SeABank's capital.

In the afternoon trading session on November 5, VN-Index continued to fluctuate within a narrow range around 1,244.3 points, down 0.41 points compared to the previous session; HNX Index decreased 0.12 points to 224.33 points, while Upcom increased 0.15 points to 91.75 points.

The market moved with lost liquidity, as the transaction value on the HOSE floor was only over VND4,600 billion. Foreign investors have not stopped their net selling with a value of over VND300 billion, focusing on FPT, MSN, KBC, VHM.

The rare bright spot is the more positive fluctuations of many banking stocks, with green contributing to the increase of VN-Index such as EIB, TCB, LPB, VIB...

Source: https://nld.com.vn/thi-truong-chung-khoan-tram-lang-vi-sao-sep-ngan-hang-van-dua-nhau-mua-ban-co-phieu-196241105132338325.htm