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Share Issuance for Dividend Payment
Nam A Bank plans to issue shares for dividend payments at a ratio of 25%, with its charter capital increasing by VND 2,654 billion. The source of the issuance is the undistributed profit in 2023 (after allocating funds to various reserves) and undistributed profits from previous years. For the ESOP, Nam A Bank expects to issue 50 million shares, increasing its charter capital by VND 500 billion. The issuance targets the bank’s employees, and the offering price is expected to be VND 10,000/share.
On the stock market, NAB shares rose 1.56% on July 2, with over 1,174,900 shares traded.
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In the short term, NAB continues to trade above its trendline, indicating a short-term uptrend. The RSI indicator is correcting towards the oversold region and is heading upwards, signaling a new uptrend. From April 15-23, when the market corrected downwards by nearly 9%, NAB’s share price showed resilience and even increased by 5%. NAB tends to lead the market.
Currently, NAB has broken above its previous high and is consolidating above the upper boundary of its trading range. Among the banks listed on HOSE, NAB is one of the best-performing stocks in terms of maintaining its uptrend.
NAB’s profit for the first half of 2024 is expected to reach a new high and exceed 50% of its full-year profit plan (Nam A Bank’s profit plan for 2024 is VND 4,000 billion).
SSI Research projects that NAB will be added to the VNFIN Lead ETF in July 2024
On July 15, the HOSE-Index, VNX-Index, and investment indices, including VNDiamond, VNFin Lead, and VNFIN Select, will announce their constituent lists for the third quarter of 2024. Related ETFs will need to restructure their portfolios by August 2, with the changes taking effect on August 5.
Customers transacting at Nam A Bank.
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Regarding the VNFIN Lead index, SSI predicts that three stocks, VIX, SSB, and NAB, are likely to be added to the index this period, while no stocks are expected to be removed.
Assuming these changes, the index’s portfolio will comprise 23 stocks. As of June 28, the SSIAM VNFIN Lead ETF had approximately VND 681 billion in assets under management. Specifically, the fund’s total assets decreased by 70.4% compared to the beginning of the year, while its NAV increased by 11.5%. The fund experienced a net outflow of nearly VND 1,865 billion.
Based on the above projections, the SSIAM VNFinLead ETF is estimated to purchase approximately 957,000 VIX shares, 162,000 SSB shares, and 67,000 NAB shares.
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Bank stock set to move to HoSE after Tet
The expected first trading day of this stock on HoSE is March 8, 2024.
