Hanoi Stock Exchange (HNX) has just announced the auction of shares of Maritime Joint Stock Commercial Bank (Maritime Bank) owned by the State Capital Investment Cooperation (SCIC).
Specifically, SCIC will auction 2.4 million Maritime Bank shares at the starting price of 12,400 dong each. At the same time, SCIC is expected to earn at least 29.7 billion dong from this auction.
This mode is to auction the whole batch. Accordingly, each investor must register to purchase the entire 2.4 million shares offered for sale by SCIC.
The auction time is expected at 8.30 am on March 28, 2018.
The price of 12,400 dong per share offered by SCIC is considered to be rather high and rather difficult to be successfully auctioned because another shareholder of Maritime Bank i.e. VNPT made several auctions for this bank’s shares at lower prices but were still unsalable.
At the beginning of March 2017, VNPT wanted to auction the entire batch of 71,577,141 shares, accounting for 6.09 percent stake at Maritime Bank at the starting price of 11,900 dong each, equal to more than 851 billion dong. However, the auction could not take place as no investor registered to attend.
Recently, VNPT has also planned to auction one more time on January 18 at 11,900 dong per share. To purchase this entire batch, apart from having more than 851 billion dong without using loans, entrusted loans from other organisations and individuals, there must commit to sticking to Maritime Bank’s long-term interest and support the bank for a long time after receiving the transfer of shares as well as using current employees.
However, the deadline for submission of investors’ capability registration application, no organisation and individual has registered to participate. Therefore, the auction of Maritime Bank shares did not take place on January 18 as planned.
Maritime Bank has the chartered capital of 11.750 trillion dong and is the only bank that has not announced 2017 business results so far.
