MB offers 73 million individual shares to Viettel and SCIC

Military Commercial Joint Stock Bank (MB - HoSE: MBB) has just announced the Board of Directors' Resolution on implementing charter capital increase through private share offering in 2023.

Accordingly, MB's Board of Directors has approved the implementation of increasing the bank's charter capital through private offering of shares.

Specifically, the bank plans to offer 73 million common shares, with a par value of VND10,000/share, to two professional securities investors, the Military Industry and Telecommunications Group (Viettel) and the State Capital Investment Corporation (SCIC).

Of which, the number of shares offered to Viettel is 43 million, and SCIC is 30 million. The above shares will be restricted from transfer within 5 years from the date of completion of the offering, except in other cases as prescribed by law.

The offering price is VND 15,959/share, calculated based on the book value per share according to the audited separate interim financial statements for the 8-month period ending August 31, 2023, reviewed by KPMG LLC.

Finance - Banking - MB offers 73 million individual shares to Viettel and SCIC — MBB stock price movements in the past 3 months (Photo: FireAnt).

The time and roadmap for implementing the private offering of shares will be from the first quarter of 2024, including implementing the registration procedure for the offering and notifying State management agencies to implement the offering for 2 investors from January 2024.

MB said that the increased charter capital will be used to supplement investment capital to increase capacity and supplement business capital for the bank on the principles of safety, efficiency and bringing benefits to shareholders.

After the end of the offering, Viettel will increase the number of shares held from 965 million to more than 1 billion shares, corresponding to an increase in ownership ratio from 18.514% to 19.072%, continuing to be the largest shareholder of MB Bank.

SCIC will increase the number of shares owned from 491 million to 521 million shares, corresponding to an increase in ownership ratio from 9.425% to 9.862%.

According to MB, the private offering to domestic investors does not affect the bank's maximum foreign ownership ratio, which is 23.2351%. MB's charter capital after the offering is expected to increase by VND730 billion, from VND52,141 billion to VND52,871 billion.

On the stock market, at the end of the session on January 30, MBB shares decreased by 0.23% to VND 22,100/share with a trading volume of more than 14.3 million units .

Source