Consequently, TPBank will be given the permission to offer up to 555 million shares on HoSE.
TPBank will be given the permission to offer up to 555 million shares on HoSE.
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In the Over-the-counter (OTC) market, TPBank's share is traded around VND30,000 (US$1.32) apiece.
Following the equitization plan, TPBank will issue 87.63 million shares, equivalent to 15% of its current charter capital. Specifically, TPBank expects to sell the maximum of 55.29 million shares (8.23% charter capital) to foreign investors, and 32.34 million shares to domestic investors.
In 2017, TPBank's profit reached VND1.2 trillion (US$52.6 million), equivalent to 155.6% of the year target and up 70.5% year-on-year, bringing the bank officially into the list of profitable banks in 2017.
At present, TPBank's total assets has exceeded VND124 trillion (US$5.4 billion), mobilizing capital of VND115 trillion (US$5 billion) and keeping bad debts under control at 0.87%.
The International Finance Corporation (IFC), a member of the World Bank, has officially become TPBank's shareholder in 2016 after acquiring 4.99% of the banks' shares.
Last December, Finish independent fund management company PYN Fund Management also completed its acquisition of a 4.99% TPBank's stake for US$40 million, marking the largest investment it has made in Vietnam.
The deal also marked the Asia-focused PYN Elite Fund's first investment in a Vietnamese bank. With a total portfolio value of EUR417 million (US$515.3 million), PYN Elite Fund is now the third largest foreign investment fund in Vietnam, according to TPBank.
In addition to TPBank, 8 other banks are expected to list their shares in 2018, namely Techcombank, MaritimeBank, SeABank, OCB, ABBank, SaigonBank, Nam A Bank and Viet A Bank.
