VNPost continues to divest from Lien Viet Bank after a year of poor sales.

Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank - LPB) said it has received a dispatch from the State Bank approving the transfer of shares by its major shareholder, the General Department of Vietnam Post (VNPost). Accordingly, the State Bank approved LienVietPostBank's proposal to transfer more than 140.5 million LPB shares owned by VNPost.

VNPost will divest all capital from Lien Viet Post Bank

LienVietPostBank is responsible for coordinating with VNPost to develop a plan and roadmap for handling the post office transaction office system after VNPost transfers its shares, including a plan to manage LienVietPostBank's network units (including the post office transaction office system), ensuring the bank operates safely, effectively, and in compliance with legal regulations...

In early 2022, VNPost unsuccessfully auctioned nearly 122.2 million LPB shares. As a result, 7 domestic individual investors successfully purchased 800 LPB shares offered by VNPost at an average auction price of VND29,483/share. No institutional investors wanted to participate in this LPB share auction. At that time, the starting price announced by VNPost was VND28,930/share, equivalent to more than VND3,500 billion for the entire lot of shares.

At the end of 2022, LienVietPostBank issued more than 225.5 million shares to pay dividends at a ratio of 100:15 (owning 100 shares will receive 15 new shares). After receiving dividends, the number of LPB shares owned by VNPost increased from nearly 122.2 million to more than 140.5 million units.

Currently, the starting selling price of LPB shares that VNPost owns has not been announced. On the stock exchange, LPB shares are trading around 14,000 VND. Temporarily calculating at this price, the total number of shares owned by VNPost is equivalent to nearly 2,000 billion VND, much lower than the value announced for divestment in early 2022.

Last year, LienVietPostBank achieved pre-tax profit of VND 5,690 billion, an increase of 56% compared to 2021. The bank's total assets reached more than VND 327,000 billion, an increase of 13.3% compared to the beginning of 2022...

Source: https://thanhnien.vn/vnpost-tiep-tuc-thoai-von-tai-ngan-hang-lien-viet-sau-mot-nam-ban-e-185230207121313267.htm