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SCIC Investment One Member Limited Liability Company (SIC) has announced the completion of the sale of all 1.35 million shares of Military Commercial Joint Stock Bank (MB – Ticker symbol: MBB), fulfilling 100% of the registration volume. The transaction was executed through order matching method from February 20 to March 12. Currently, SIC no longer holds MBB shares.
Prior to this, from January 17 to February 15, SIC registered to sell all 3 million MBB shares but only successfully sold 1.65 million shares through the order matching method, due to market fluctuations.
SIC is an organization related to Mr./Mrs. Vu Thai Huyen – Member of the MB Board of Directors and the representative of the state capital ownership of the State Capital Investment and Trading Corporation (SCIC) at MB. Currently, SCIC is the parent company of SIC and the second largest shareholder at MB with 459,425,325 shares, equivalent to 9.425% of the bank’s charter capital.
During the period of SIC’s trading, the MBB stock price fluctuated between VND 22,800 and VND 25,200 per share. Estimated at the average price of VND 24,000 per share, SIC could earn about VND 32.4 billion.
In addition, the State Capital Investment and Trading Corporation (SCIC) recently announced its plan to exercise its right to purchase 30 million shares in the offering of 73 million separate shares approved by MB’s Board of Directors. The transaction is expected to take place from March 8 to April 6.
Prior to that, MB’s Board of Directors issued a resolution to implement the private placement of 73 million shares of the Military Industry and Telecoms Group (Viettel Group) and SCIC. Among them, MB offered 43 million shares to Viettel Group and 30 million shares to SCIC.
The private placement of shares mentioned above is based on the decision approved by the 2023 Annual General Meeting of Shareholders and the relevant legal regulations.
According to the Resolution, the offering price for Viettel Group and SCIC is VND 15,959 per share. This is the book value per share according to the financial report audited and reviewed between the annual periods ended on August 31, 2023, reviewed by KPMG Co., Ltd.
The expected offering period is from the first quarter of 2024, in which the registration procedure and reporting to the State Management Agencies will be conducted to implement the offering for the two above-mentioned investors starting from January 2024.
The shares being privately placed will be subject to transfer restriction for 5 years from the completion date of the offering, except in other cases as specified by the law.
If the offering is successful, MB’s charter capital will increase by VND 730 billion, from VND 52,141 billion to VND 52,871 billion. The additional charter capital will be used by the bank to supplement investment capital to increase capacity and supplement business capital on the principles of safety, efficiency, and benefits for shareholders.
