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Tuesday, December 6, 2022

SeABank to issue over 59 million shares through ESOP

The Saigon Times

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HCMC – Southeast Asia Commercial Joint Stock Bank (SeABank/SSB) plans to issue 59.4 million shares under the employee stock ownership plan (ESOP) at VND15,000 each in the third quarter of this year.

The bank will sell the shares to nearly 2,500 SeABank employees who are shortlisted for this program, reported Bnews.vn.

The share issue is expected to enhance the relationship between the bank and its employees as well as to help the bank raise capital.

Earlier, the numbers of shares issued and employees taking part in the bank’s ESOP programs have increased over the years. The bank chose employees to buy its shares via ESOP based on such criteria as their seniority and performance in the bank’s development process.

In 2018, SeABank sold around 23 million shares under ESOP to approximately 200 outstanding employees at VND10,000 each. In 2021, close to 1,000 SeABank employees were selected to buy its shares at a preferential price.

In March 2021, SeABank listed its SSB shares on the Hochiminh Stock Exchange with a preferred price of VND16,800 which then rose by 2.7 times to reach VND45,600 on December 31, making the bank one of the 10 largest lenders by capitalization on the local stock market.

Closing the trading session today, August 3, SSB shed 0.16% to VND31,800.

The VN-Index of the HCMC exchange gained 8.14 points, or 0.66%, against the previous session at 1,249.76, with 269 advancers and 182 decliners. More than 789 million shares worth over VND17.5 trillion were traded on the southern bourse, down slightly in volume yet up steadily in value compared to the previous session.

The HNX-Index of the Hanoi bourse also closed on a high note. It added 2.27 points, or 0.77% over the session earlier at 298.11, with 128 winners and 80 losers.

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