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Wednesday, October 5, 2022

MSB gets nod to hike charter capital

The Saigon Times

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HCMC – The State Bank of Vietnam has approved Vietnam Maritime Commercial Joint Stock Bank’s plan to increase its charter capital by over VND4.7 trillion to VND20 trillion.

The lender, which trades its MSB shares on the Hochiminh Stock Exchange, will issue a maximum of 472.5 million shares, including over 458 million bonus shares for its existing shareholders and 14.3 million shares under the 2022 employee stock ownership plan.

After the issue, the total number of outstanding MSB shares will reach two billion, or VND20 trillion in charter capital given the nominal share value of VND10,000 each, the local media reported.

The charter capital increase will help the lender improve its financial capacity and expand its operation and investment in multiple strategic projects, especially in digitalization.

In the first half of the year, MSB posted over VND3.3 trillion in pre-tax profit. As of the end of the second quarter of the year, the lender’s total assets stood at VND195 trillion, down 4% against early 2022.

Despite the positive news, MSB lost over 0.5% at the close today, September 5.

The poor performance of many big-cap stocks, coupled with strong selling pressure, dragged the VN-Index of the southern bourse down 3.16 points, or 0.25%, from the session earlier, at 1,277.35, with 168 gainers and 283 losers.

Over 524.6 million shares worth VND13.4 trillion changed hands, up over 5% in both volume and value against the previous session.

In the VN30 basket, 21 tickers lost steam, with mobile phone retailer MWG reporting the sharpest drop at 2%.

Among big-cap stocks, steelmaker HPG and dairy firm VNM bucked the downtrend to close up 4% and 2.6%, respectively.

Many other steel stocks were main backers of the index, with NKG ending up to its daily upper limit and taking the lead by liquidity on bourse with 27.8 million shares.

On the Hanoi Stock Exchange, the HNX-Index added 0.89 points, or 0.31%, from the session earlier, at 292.82, backed by large-cap stocks.

Fuel firm PVS gained ground and became the most actively traded stock with a matching volume of 8.3 million shares.

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