Why did Viet Phuong Investment Group sell 17 million shares and withdraw capital from VietABank?

In compliance with the Law on Credit Institutions, Viet Phuong Investment Group - a major shareholder of VietABank - has just made a move to reduce its ownership ratio to below 10% at this bank.

Viet Phuong Investment Group is currently the largest shareholder of VietABank, owning 12.21% of the bank's capital - Photo: VAB

Viet Phuong Investment Group has just sent a report to the Securities Commission that it will sell 17 million VAB shares of VietABank, with a par value of 170 billion VND.

The transaction is expected to be carried out by negotiation or order matching on the floor, between May 28 and June 26.

Viet Phuong Group said it is holding nearly 66 million VAB shares, equivalent to 12.21% of the bank's charter capital.

If the transaction is successful, the group will reduce its ownership ratio to 9.06% of charter capital. The reason for the sale, according to the report, is to adjust the ownership ratio according to the provisions of the Law on Credit Institutions.

Under new regulations that took effect in the middle of last year, an institutional shareholder is not allowed to own shares exceeding 10% of the charter capital of a credit institution.

At the end of the trading session on May 28, VAB shares were at VND13,800/share, up more than 40% over the past quarter. It is estimated that at this price, the amount of shares that Viet Phuong Group will sell will bring in VND235 billion.

Previously, Ho Chi Minh City Stock Exchange (HoSE) also announced that it received VietABank's listing registration dossier.

The bank registered to list nearly 540 million shares, equivalent to a charter capital of about VND5,400 billion. Currently, VAB shares are still being traded on the UPCoM exchange.

In 2025, Viet A Commercial Joint Stock Bank (VietABank) aims to achieve pre-tax profit of VND 1,306 billion and increase charter capital to more than VND 11,500 billion, double the current level.

In the first quarter of this year, the bank recorded after-tax profit of VND292 billion, an increase of 44% over the same period last year.

As of March 31, 2025, VietABank's total assets reached VND 129,046 billion, an increase of nearly 8% compared to the beginning of the year. Of which, outstanding loans to customers reached VND 84,910 billion, an increase of nearly 6.3% compared to the beginning of the year.

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BINH KHANH

Source: https://tuoitre.vn/vi-sao-tap-doan-dau-tu-viet-phuong-ban-ra-17-trieu-co-phieu-rut-bot-von-khoi-vietabank-20250528162301655.htm