Customers trade at an Orient Commercial Bank (OCB)'s office. OCB is negotiating with foreign partners to sell 10 per cent of its charter capital (Photo: VNA)Leaders of the Orient Commercial Bank (OCB) said the bank was negotiatingwith foreign partners to sell 10 percent of its charter capital, baodautu.vn reported. If the deal issuccessful, the bank will lift its the foreign ownership limit (FOL) to amaximum of 30 percent as regulated by the current regulation.
OCB's share price has had a positive growth for nearly a year since its listingon the HOSE on January 28, 2021.
According to the Viet Dragon Securities Corporation, OCB’sprivate placement plan of 70 million shares, which is expected to be completedin early 2022, will be a catalyst for the bank’s stock price to increase in theshort term.
Last year, Japan’s Aozora Bank acquired a 15 percent stake inOCB in a deal worth 139 million. This was the first M&A dealfor Aozora in a foreign market since 2001 and made Aozora OCB’s largestshareholder.
The market is also awaiting for the stake sale deal of VPBank to foreignshareholders this year after VPBank announced it wanted to adjust the FOL from15 percent to 17.5 percent and preparing to issue shares to foreign strategicshareholders.
At VPBank’s 2022 annual general meeting, the bank’s leaders said VPBankcould sell both existing treasury shares and newly-issued shares toforeign partners.
VPBank’s leaders are expected to complete the share sale plan in the firstquarter of 2022. If the issuance is successful, the bank's equity could reach arecord of around 120 trillion VND.
In April, VPBank signed an agreement to sell a 49 percent stake in FECredit to Japan’s Sumitomo Mitsui Finance Group (SMFG) in a transaction thatvalues the non-bank lender at 2.8 billion USD.
Through this transaction, FE Credit is expected to receive support in capitalresources, management capacity and experience in the consumer finance sector inAsia from SMBC Group, especially SMBCCF – a leading consumer finance company inthe Japanese market.
The transaction will add a large amount of capital to VPBank, contributing toenhancing the bank's financial potential to capture new investmentopportunities in the market.
Sacombank also said it will sell 32.5 percent shares to foreign investors aftercompleting its restructuring in 2022.
However, Sacombank Chairman Dương Công Minh said the sale of sharesto foreign partners must be approved by the Government and the Việt Nam AssetManagement Company (VAMC) as the VAMC is keeping the shares./.
VNA
