DOJI cancels the purchase of 11.6m TPB shares

28-Nov-2020 Intellasia | Tri Thuc Tre | 6:02 AM Print This Post

DOJI Jewellery Group Joint Stock Company (DOJI) had just announced to cancel the transaction of buying TPB shares of Tien Phong Commercial Joint Stock Bank (TPBank).

Previously, DOJI had announced to register to buy 11.6 million TPB shares from November 26 to December 25, 2020, by agreement method on the stock exchange. If the transaction were successful, DOJI would own more than 68.5 million TPB shares, equivalent to eight percent ownership. DOJI said that due to the change of investment orientation, the company was not willing to make transactions.

DOJI was one of the major shareholders of TPBank, currently holding 6.64 percent of the Bank’s equity. Mr. Do Minh Phu, Chair of the Board of Directors of TPBank, was also the representative of DOJI’s capital contribution at this Bank.

Regarding TPBank, the Bank would close the list of shareholders on December 1 to issue shares to pay a 20 percent dividend and issue shares to increase capital at the rate of 2.18%. The total issuance was expected to be over 181 million shares. Simultaneously, the Bank also planned to issue nearly 34 million shares under the ESOP program with an issuance rate of 4.16%. It was expected that after the successful issuance of the three above phases, TPBank’s charter capital would increase from dong 8.566 trillion dong to 10.717 trillion dong.

Closing the session on November 25, 2020, TPB’s stock price stood at 25,150 dong per share, increasing by more than 10 percent since the beginning of November 2020.

 

Category: Finance, Vietnam

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