5 investors spend thousands of billions to buy BIDV shares

BIDV plans to offer about 123.85 million individual shares, raising more than VND4,800 billion. Five domestic and foreign investors have registered to buy.

Four foreign investors and one domestic investor participated in buying individual shares issued by BIDV - Photo: BID

The Board of Directors of the Joint Stock Commercial Bank for Investment and Development of Vietnam - BIDV (BID) has just passed a resolution approving the implementation of a private offering plan for investors.

Accordingly, the total number of shares offered in this round is nearly 123.85 million units, equivalent to 1.8% of the bank's outstanding shares at the end of 2024.

With the offering price determined at VND38,800/share, BIDV is estimated to collect more than VND4,800 billion from this issuance.

The expected time is in the first quarter of 2025, after the State Securities Commission has written approval.

BIDV's Board of Directors also approved the plan and roadmap for using the proceeds from that issuance.

Of which, more than VND 4,000 billion was added by the bank to credit activities; VND 480 billion for investment activities; the rest was invested in facilities, technology, and improving the competitiveness of the business network.

According to the document attached to the resolution, there are 5 organizations that will participate in buying BIDV shares in this private issuance. Of these, there are 4 foreign investors and 1 domestic investor.

Specifically, Vietnam Enterprise Investments Limited (VEIL) - one of the largest investment funds in Vietnam (belonging to Dragon Capital) - registered to buy the largest volume with nearly 59 million shares, accounting for more than 47% of the total offering.

Another member fund of Dragon Capital, Hanoi Investments Holdings Limited (Hanoi), also registered to buy more than 15.72 million shares.

DC Developing Markets Strategies Public Limited Company registered to buy more than 8.5 million shares. Meanwhile, Samsung Vietnam Securities Master Investment Trust (SSMIT) bought more than 1.96 million units.

The only domestic investor on this list is the State Capital Investment Corporation (SCIC), which registered to buy more than 38.65 million shares.

At BIDV, according to the latest shareholder list on December 24, 2024, the foreign ownership ratio is 16.88%. Meanwhile, according to the document of the Securities Commission on the notification dossier, the maximum foreign ownership ratio of this bank is 30%.

On the stock market, each BID share of BIDV is priced at VND39,100, about 7% higher than the expected private offering price.

While many banking stocks have seen quite good growth, BID has only recorded a price increase of less than 3% in the past year.

Source: https://tuoitre.vn/5-nha-dau-tu-bo-nhieu-nghin-ti-mua-co-phieu-cua-bidv-20250112192900179.htm