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Military Commercial Joint Stock Bank (MB – Code: MBB) has just announced the results of private placement of 73 million shares to two investors, namely Military Industry – Telecommunication Group (Viettel) and State Capital Investment and Business Company (SCIC).
Specifically, Viettel has bought 43 million shares, increasing the ownership of MBB shares from 965 million to 1.008 billion shares, corresponding to the increased ownership ratio from 18.514% to 19.072%, continuing to be the largest shareholder of MB. SCIC, on the other hand, has bought an additional 30 million shares, increasing the number of MBB shares held from 491 million to 523 million, the ownership ratio increased from 9.425% to 9.862% and is the second largest shareholder of MB.
The total amount of money raised by MB from this private placement is 1,165 billion VND. The newly issued shares will be restricted from transfer within 5 years from the completion date, except for other cases according to regulations.
After the private placement, MB’s charter capital has increased by 730 billion VND, from 52.141 trillion VND to 52.871 trillion VND – ranking 5th in the banking industry, after VPBank, BIDV, Vietcombank, and VietinBank but higher than Agribank. The additional charter capital will be used by the bank to supplement investment capital to increase capacity and add business capital on the principles of safety, efficiency, and benefits for shareholders.
Prior to that, MB’s Board of Directors issued a resolution to carry out the private placement of 73 million shares to Military Industry – Telecommunication Group (Viettel Group) and SCIC. Specifically, MB offered 43 million shares to Viettel Group and 30 million shares to SCIC.
The above-mentioned private placement is based on the decision approved by the 2023 Annual General Meeting of Shareholders and related legal provisions.
According to the Resolution, the offering price for Viettel Group and SCIC is 15,959 VND/share. This is the book value per share according to the independently reviewed financial statements for the eight-month period ending on August 31, 2023, reviewed by KPMG Limited Liability Company.
At the end of the trading session on March 18, MBB shares closed at 23,200 VND/share, up 45% compared to the private placement price for Viettel and SCIC.
