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VNPost seeks to sell over 122 million LienVietPostBank shares

The Saigon Times

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HCMC – The Hanoi Stock Exchange has announced an auction of more than 122 million LienVietPostBank (LPB) shares owned by Vietnam Post Corporation (VNPost) with the starting price of VND28,930 per share, above the LPB market price.

LPB closed the session today, January 26, at VND24,600, the local media reported.

If the auction is successful, VNPost would get more than VND3.5 trillion. The auction is set for February 23.

VNPost had earlier sold 18 million shares of Post-Telecommunication Joint Stock Insurance Corporation at the starting price of VND47,310 per share.

An organization and four individuals had registered to buy over 50 million shares, nearly three times higher than the volume of shares put up for sale. They had registered to buy 7.22 million-11 million shares each with the highest price of VND82,000 and the lowest price of VND56,100.

LienVietPostBank has issued its consolidated financial report last year with pretax profit reaching VND3.6 trillion, surging 50% over 2020.

The bank spent more than VND1.3 trillion making provision for credit risks in 2021, 1.9 times higher than the figure in 2020.

Closing the session today, the VN-Index of the Hochiminh Stock Exchange added two points, or 0.14%, at 1,481.58 points.

Trade volume totaled 813 million shares worth VND23.5 trillion, up 8% and 6% from the day earlier, respectively. There were 45.6 million shares valued at over VND1.57 trillion traded in block deals.

Meanwhile, the HNX-Index of the Hanoi Stock Exchange inched up 1.59 points, or 0.39%, against the previous session, at 411.82. Some 60.5 million shares worth nearly VND1.73 trillion changed hands, down 22% in volume and 21% in value.

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