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Banking & Finance

MB holds successful offering

Released at: 12:11, 21/09/2015

MB holds successful offering

Military Commercial Joint Stock Bank sells all shares at prices higher than starting price.

by Hung Nguyen

The Military Commercial Joint Stock Bank (MB) has announced the results of its latest public offering, with 390.6 million shares being sold at a starting price of VND10,000 ($0.44) from September 1 to September 19.

The full offering was sold, with the lowest successful price being VND10,500 ($0.47) per share and the highest VND11,665 ($0.52).

The bank received VND4.28 trillion ($190.41 million) in total, bringing its capital to almost VND16 trillion ($711.84 million).

The offering attracted five institutional shareholders, both existing and new. The State Capital Investment Corporation (SCIC), a new investor, purchased 160 million shares to secure a 10 per cent holding.

Neither Maritime Bank nor Vietcombank participated in the offering, with the former’s holding falling from 12.06 per cent to 8.84 per cent and the latter’s from 9.6 per cent to 7.16 per cent.

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