HCMC – Kien Long Commercial Joint Stock Bank (KienlongBank, UpCOM: KLB) has filed for listing on the Hochiminh Stock Exchange (HOSE) and will pay a 60% stock dividend, the highest among Vietnamese banks in 2025.
According to HOSE, KienlongBank submitted an application to list over 365 million shares, equivalent to its current charter capital of nearly VND3.65 trillion. Saigon – Hanoi Securities Corporation is acting as the listing advisor.
The bank said September 25 will be the record date for shareholders eligible to receive the stock dividend. They will get 60 new shares for every 100 shares held. The dividend will be paid from retained earnings after tax as of December 31, 2024, following regulatory allocations to reserves.
After the issuance, KienlongBank’s charter capital will rise from VND3.65 trillion to VND5.82 trillion.
In the first half of 2025, the bank reported net interest income of VND1.73 trillion, up 13.1% year-on-year. Its pre-tax profit reached VND921.3 billion, while its post-tax profit exceeded VND736 billion, both up over 67% from a year earlier.
Closing the trading session today, September 17, KLB extended its winning streak to the seventh straight session, advancing 7.46% to VND28,800 on volume of nearly 2.1 million shares.
Vietnam’s benchmark index closed lower on Wednesday as banking, steel and brokerage shares drove the market down, though Vingroup rose to become the most valuable listed company.
The VN-Index fell 9.93 points, or 0.59%, to 1,670.97 on the HOSE. Decliners outnumbered gainers by 201 to 119. Trading volume reached 1.07 billion shares worth VND32.5 trillion, down about 20% in both volume and value from the previous session.
Vingroup (VIC) gained 6% to VND143,100, up 14.5% in just over a week, lifting its market value above VND555 trillion and surpassing Vietcombank (VCB) for the first time since 2021.
Other large caps rising included GAS, up 2.1%, FPT, up 1.9%, and BCM, up 1%. LPB, VNM, SSB, PLX, STB and VHM added less than 1%.
Steelmaker HPG dropped 2.5% to VND29,200 after early gains, despite news its agriculture unit filed for an IPO. It led the market in liquidity with 124.4 million shares traded. Foreign investors net-bought 7.2 million HPG shares.
Steel rivals NKG and HSG lost 0.8% and 2.7% respectively, both facing foreign outflows.
In the banking sector, SSB, STB and LPB edged higher, while VCB, BID and CTG slipped between 1% and 2%. SHB was the most traded bank stock with 64.7 million shares, down 0.8%.
Brokerage stocks mostly declined. SSI fell 2.4% to VND40,600 with 37.9 million shares traded. Only FTS rose, gaining 0.4%.
Property shares showed mixed performance. VIC’s gains supported the sector, while smaller developer SCR jumped to its ceiling price of VND9,600 with over 30.8 million shares traded. Foreign investors net-bought 1.6 million SCR shares.
On the Hanoi Stock Exchange, the HNX-Index edged down 1.35 points, or 0.48%, to 277.63, with 69 advancers and 114 decliners. Trading volume reached 189 million shares valued at VND3.9 trillion.
