*Half of banks in the system have listed
Statistics from the State Bank of Vietnam (SBV) show that currently, the system has 31 joint stock commercial banks, including three state-owned banks i.e. BIDV, Vietcombank and Vietinbank.
Currently, on all the three bourses including Hochiminh City Stock Exchange (STC), Hanoi Stock Exchange (HNX) and Upcom, there are a total of 16 stock codes of listed banks.
Of which, HNX has stock codes of such joint stock commercial banks as CTG (Joint Stock Commercial bank of Industry and Trade), VCB (Joint Stock Commercial Bank for Foreign Trade of Vietnam), BID (Bank for Investment and Development of Vietnam), MBB (Military Bank), EIB (Export-Import Joint Stock Commercial Bank), STB (Saigon Thuong Tin Joint Stock Commercial Bank), HDBank (Hochiminh city Housing Development Bank), and VPBank (Vietnam Prosperity Joint Stock Commercial Bank).
HNX has stock codes of such banks as ACB (Asia Joint Stock Commercial Bank), SHB (Saigon Hanoi Joint Stock Commercial Bank), and NVB (National Citizen Commercial Joint Stock Bank).
Upcom has stock codes of such banks as VIB (Vietnam International Joint Stock Commercial Bank), LBP (LienVietPost Joint Stock Commercial Bank), KLB (Kien Long Joint Stock Commercial Bank) and BAB (Bac A Joint Stock Commercial Bank).
By the end of 2017, 10 joint stock commercial banks were about to list including Orient Joint Stock Commercial Bank (OCB), An Binh Joint Stock Commercial Bank (ABBank), Technical and Commercial Joint Stock Bank (Techcombank), Nam A Joint Stock Commercial Bank (Nam A Bank), Maritime Joint Sock Commercial Bank (MaritimeBank), Viet A Joint Stock Commercial Bank (VietABank), Tienphong Joint Stock Bank (TPBank), Southeast Asia Joint Stock Commercial Bank (SeaBank), Housing Development Bank (HDBank), and LienVietPostBank.
However, just LienVietPostBank listed on Upcom with the stock code LPB in October 2017.
At the beginning of 2018, HDBank listed on STC with the stock code of HDB. After more than three months listing on STC, the bank’s shareholders are certainly winners when HDB share price has never returned to the starting price of 39,600 dong per share. Currently, HDB-coded shares are being traded at 51,000 dong each, up 28 percent from the starting price.
In addition, joint stock commercial banks that are about to organise annual general meeting (AGM) will submit to shareholders the plan for listing.
Specifically, Vietbank schedules to list on Upcom and will list on STC by 2020.
Nam A Bank has also had a submission to shareholders about the listing on stock exchange after three years of delay though shareholders approved this plan at the AGM in 2015.
After several times ignoring the listing, at the upcoming AGM on April 25, 2018, ABBank will discuss with shareholders about the share listing on the bourse but nothing is certain when at the 2017 AGM, the bank’s management board also promised to list ABBank shares on Upcom.
Currently, PVcomBank, SaigonBank, VietABank, VietCapitalBank have not announced their plans to list.
SCB is also expected to list after 2020 and SeaBank plans to list during 2018-2020.
* The stock price “tsunami” on OTC
On OTC, Techcombank’s share price is trading around 115,000-120,000 dong per share, which has increased 50 percent from March 8, 2018 at more than 80,000 dong per share. Compared to 25,000 dong per share on March 9, 2017, Techcombank’s market price increased nearly five times over the last more than 13 months.
The name of Techcombank in 2017 was famous among banking sector when the strategic partner HSBC divested the entire capital from this bank after 12 years of cooperation. Techcombank had to acquire nearly 160 million shares to be Treasury shares at 23,445 dong per share.
Recently, on April 13, 2018, Techcombank also stirred up the market when its IPO raised about $900 million with the selling price at about 120,000-180,000 dong per share.
The deadline of the book building in the IPO was on April 13, 2018. Techcombank itself sold out more than 64 million Treasury shares.
Techcombank plans to list on June 4, 2018 on HNX, valued at about $6.1-6.5 billion.
On OTC, OCB share price also surges to 28,000-30,000 dong each, doubling from the price at the end of June 2017 which is lower than the par value of 9,800 dong per share.
Especially, OCB plans to list on STC in Q4/2018. This has strongly influenced on the offering of unsellable OCB shares that Vietcombank offered for sale earlier, starting at 13,000 dong per share. Many investors have been following the wave of OCB share price on OTC to push buying price up to 2x higher.
On April 17, 2018, there will have auction results of 6,672,444 OCB shares that Vietcombank is holding. This is the remaining shares from the previous auction.
OCB is also the bank whose strategic shareholder BNP Paribas divested entirely more than 74 million shares, equal to 18.68 percent of the chartered capital after more than 10 years of cooperation. This transaction was carried out on December 26, 2017. Currently, information about the transferee of more than 74 million shares of BNP Paribas has not been announced.
* STC welcomes new “rockie”
TPBank will list on STC on April 19, 2018 with the stock code TPB at the starting price of 32,000 dong per share.
Earlier, MobiFone had to stop auctioning 5.55 million shares, equal to 0.95 percent chartered capital of TPBank, at the starting price of 12,800 dong per share. It is estimated that with this initial price, MobiFone may gain 71 billion dong from the sale of TPBank shares.
However, this auction had to temporarily cease after TPBank leaders report that foreign room reached 30 percent. However, after reconsidering, the room was 24.9 percent.
With TPB’s listing on the bourse at the starting price of 32,000 dong per share, the “tactics” of reviewing foreign room at TPBank to postpone the auction will help MobiFone shareholders increase profit when gaining as much as 177 billion dong after selling at 32,000 dong per share.
TPBank share price on OTC was about 28,000 dong per share, quite high compared to one year ago with 8,400 dong per share on March 9, 2017.
Currently, TPBank’s biggest shareholder i.e. FPT Joint Stock Company held 9.13 percent of the chartered capital, followed by DOJI Jewellery Group with eight percent.
Whether TPBank can keep its price to continue increasing like HDBank and VPBank? Shares of these two banks have consecutively increased since its listing and have moved far beyond the starting point.
