Military Enterprises Announce Sale of Over 3 Million MBB Shares

Three companies—Agtex28 (Total Company 28), Defense Industry Technical Materials Company Limited, and Chemical Engineering Company Limited 14—have announced the sale of a significant number of shares in Military Commercial Joint Stock Bank (MB, stock code: MBB).

Agtex28 has approved the transfer of 2.5 million MBB shares, which are additional shares from annual dividend distributions. The company has set a starting price of no less than VND 24,030 per share.

Based on the par value, the total expected revenue from this offering is approximately VND 25 billion. However, with market expectations, Agtex28 could generate over VND 60 billion.

The transaction is scheduled to take place in December 2025 via order matching on the HOSE. Currently, Agtex28 holds over 38.2 million MBB shares, equivalent to 0.474% of the bank’s charter capital.

Defense Industry Technical Materials Company Limited has also announced the sale of 306,456 shares, representing 0.0058% of MB’s outstanding shares. According to the decision dated November 19, 2025, the starting price is set at VND 24,000 per share, based on the average reference price over the previous 30 consecutive days. The transaction is expected to be completed within six months, from December 10, 2025, to June 9, 2026.

Another entity under the General Department of Defense Industry, Chemical Engineering Company Limited 14, is also participating in this divestment with 232,984 shares. The expected minimum selling price is VND 23,550 per share, with the transaction scheduled for Q4/2025.

All three companies stated that the divestment aims to implement the capital investment policy of military enterprises as per the decision of the Finance Department – Ministry of Defense, while also generating capital for investment in core business projects.

Meanwhile, MB Bank continues to maintain stable growth. In 2025, the bank aims for a 10% profit growth, controls non-performing loans below 1.7%, and maintains an attractive dividend policy for shareholders. The divestment by organizational shareholders is considered a normal financial restructuring activity.

Despite the selling activity from some member units, the presence of military enterprises in MB Bank remains strong through key strategic shareholders.

Ownership data shows that Viettel Group is the largest shareholder, holding over 1.18 billion shares, equivalent to 14.7%. Other major defense entities also maintain significant ownership stakes, such as Vietnam Helicopter Corporation with 8.43% (over 679 million shares) and Saigon Port Corporation with 7.09% (over 570 million shares).