The Vietnam Investment Fund Management Joint Stock Company (VFM) has registered to sell all its shareholding at Asia Commercial Joint Stock Bank (ACB).
Specifically, during the period from June 28th to July 27th, VFM will sell 692,967 shares of ACB, equivalent to 0.05 percent of ACB’s shares in circulation under put through or order matching method.
At present, member of ACB’s Board of directors and Managing director of Dragon CapitalDominic Timothy Charles Srivenis also VFM’s Chair of the Board of directors.
In the recent time, ACB shares have been traded around 28.000 29.000 dong per share. Thus, if successful, VFM will collect an amount of above 20 billion dong.
In the first quarter of 2019, ACB reported a net profit of nearly 2.857 trillion dong, up by 20 percent over the same period of 2018. Thanks to the reversal of nearly 16 billion dong of provisions for credit risks, the bank’s pre-tax profit increased by 15 percent to 1.706 trillion dong. Thus, ACB has completed 23 percent of the annual profit plan.
