HoSE receives SHB’s registration documents

22-Sep-2020 Intellasia | BizLIVE | 6:02 AM Print This Post

The HCM City Stock Exchange (HoSE) has announced to receive the registration documents for listing of Saigon Hanoi Commercial Joint Stock Bank (SHB) on September 17th. Accordingly, the bank expects to list more than 1.75 billion SHB shares on the HoSE.

The bank’s charter capital at the time of registration was more than 17.558 trillion dong. SHB shares are currently listed on the Hanoi Stock Exchange (HNX).

Previously, at the 2020 Annual general Meeting (AGM) held in June, SHB shareholders approved the plan to shift the listing to the HoSE.

The bank’s leader board said that the change of stock exchange was aimed at implementing the prime minister’s policy on restructuring the Vietnam stock market after the Project on Establishing the Vietnam Stock Exchange on the basis of merging the HNX and HoSE which was signed in early 2019.

At the same time, the change of stock exchange will promote SHB’s image to foreign strategic investors who are reputable economic organisations, enhancing SHB’s position on the stock market.

Currently, T&T Group Joint Stock Corporation is SHB’s the only major shareholder of SHB which holds more than 175 million SHB shares, equivalent to an ownership of 9.97 percent of charter capital.

Meanwhile, Do Quang Hien, SHB’s Chair of the Board of directors (BOD) cum Chair of T&T Group currently owns more than 48.1 million shares, equivalent to 2.74 percent of the bank’s stake.

 


Category: Finance, Vietnam

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