Vietnam Technological and Commercial Joint Stock Bank (Techcombank, Stock Code: TCB, listed on HoSE) has just announced the Board of Directors’ resolution to approve the plan to increase charter capital in 2025 by issuing shares under the employee stock ownership plan (ESOP) approved by the General Meeting of Shareholders on April 26.
Accordingly, the bank plans to issue an additional 21.38 million ESOP shares. Of these, nearly 6.6 million shares will be allocated to foreign employees and over 14.8 million shares to Vietnamese employees. The issuance ratio is 0.30275% of the total outstanding shares.
Techcombank to Issue 21.3 Million ESOP Shares at One-Third of Market Price
All ESOP shares will be subject to a one-year lock-up period from the end of the issuance. The issuance is expected to take place in the third or fourth quarter of 2025, after the State Securities Commission notifies the receipt of complete issuance report documents.
With an issue price of VND 10,000 per share, Techcombank expects to raise nearly VND 214 billion. The total amount raised from this issuance will be used to supplement the bank’s operating capital.
At the end of the morning session on May 20, TCB shares were temporarily trading at VND 30,850 per share. Therefore, the ESOP issuance price is only one-third of the current market price.
If this issuance is completed, Techcombank’s charter capital will increase from VND 70,648 billion to VND 70,862 billion.
Techcombank announced the list of 367 employees who will receive shares in this offering. The largest allocation goes to Pranav Seth with 1.25 million shares.
In terms of business results, in the first quarter of 2025, Techcombank recorded a 2.3% year-on-year decrease in net interest income to VND 8,305.3 billion.
In the context of declining business activities, the bank also reduced credit risk provisions by 10% to VND 1,090 billion.
As a result, Techcombank reported a 7.2% decline in pre-tax profit to VND 7,236 billion, and a corresponding net profit of VND 6,014 billion, down 4.2% year-on-year.
As of March 31, 2025, Techcombank’s total assets were recorded at VND 989,216 billion, an increase of 1.1%. Customer loans increased by 5.1% to VND 663,693 billion, while customer deposits decreased by 0.3% from the beginning of the period to VND 531,583 billion.
Hoang Lam
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