The Hanoi Stock Exchange (HNX) has announced news on the auction of shares of the Southeast Asia Commercial Joint Stock Bank (SeABank) and the Tien Phong Commercial Joint Stock Bank (Tien Phong Bank) of MobiFone, one of the top three mobile service providers in Vietnam.
Accordingly, MobiFone will auction 14.28 million shares, equivalent to 2.57% of capital at Tien Phong Bank with the starting price of VND8,900 per share.
At the same time, this network will also auction 33.4 million shares of SeABank, equivalent to 6.12% of the capital, at the initial price of VND9,600 per share.
MobiFone’s divestment from the two banks is supposed to prepare for its equitisation in 2016.
The auction will be held on the morning of March 25 at Hanoi Stock Exchange.
If the auction is successful, MobiFone can earn at least VND447 billion, including at least VND320 billion from SeABank and VND127 billion from Tien Phong Bank.
In 2015, MobiFone completed divestment from SmartMedia and Neo. In early 2016, it finalized the acquisition of 95% shares of the AVG Group, the owner of An Vien Television. However, the cost of the deal is still a secret.
Source: http://english.vietnamnet.vn - S. Tung
Keywords: MobiFone, to divest from, two banks, to earn, over $20 million
