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VPBank to issue over 30 million ESOP shares

The Saigon Times

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HCMC – Vietnam Prosperity Joint Stock Commercial Bank plans to issue more than 30.22 million shares under an employee share ownership plan (ESOP) at VND10,000 each.

These ESOP shares will be offered exclusively to eligible Vietnamese employees, while those members of the Board of Directors who are not actively involved in the bank’s day-to-day operations will not be eligible for participation.

The shares will be restricted from trading within three years from the issue date. However, 30% of the shares will become tradable after one year, and another 35% will be tradable in each subsequent year.

The share issue is scheduled for the third quarter of 2023, and the company expects to raise VND302.2 billion from the sale. The proceeds will be used to supplement the bank’s working capital.

Those ESOP shares not acquired by employees will be allocated to other eligible individuals who meet the ESOP program’s requirements, at a minimum price of VND10,000 per share.

In its reviewed semi-annual earnings report, VPBank reported a net interest income of around VND18.3 trillion, a year-on-year decline of 10.1%. Its post-tax profit totaled over VND4.1 trillion, plunging by 66.5% compared to the same period of the previous year.

VPB extended its winning streak to the fourth straight session with a 0.67% rise to VND22,450, with more than 30.5 million VPB shares changing hands on the southern market today, September 13.

With 192 winners and 331 losers, the VN-Index of the Hochiminh Stock Exchange shed 7.05 points, or 0.57%, to close at 1,238.39 points.

Trading volume and value increased 29% over the previous session, with 1.26 billion shares valued at VND29.7 trillion changing hands. Around 72.4 million shares were transacted through block deals, contributing VND2.1 trillion to the overall value.

NVL continued to take the lead by liquidity with a matching volume of 77.1 million shares, but it inched down 4.8% to VND19,950 per share.

The HNX-Index of the Hanoi Stock Exchange dropped a slight 0.08% to 256.11 points.

The northern bourse saw 75 stocks rising and 104 others dipping, with trading volume reaching 116.4 million shares and trading value totaling VND2.5 trillion.

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