Eximbank to auction shares online

The underwriter of Vietcombank Securities Co (VCBS) on December 18 will hold an auction for shares of Export and Import Commercial Joint Stock Bank (Eximbank). What is notable is that the auction will be held in form of online order matching form between Hanoi and HCM City. Reportedly, Eximbank is one of the first units holding such form of auctions.
The order matching price is the common price for all investors based on gathering total volume of legally ordered shares. What is attractive for such order matching auction is that if investors order to buy shares at prices higher than the order matching price, they will be allowed to buy the registered shares at the order matching price. Out of total 200,000 shares to increase the Eximbank’s chartered capital by 200 billion dong, 10,000 shares will be auctioned. The reserve is fixed at 1,100,000 dong per share. The time for registration for participation is from December 6 to December 14. After this share issuance, Eximbank’s the chartered capital will increase to 500,000 billion dong.

 

Category: Finance