Techcombank wants to issue 19.8 million ESOP shares

Vietnam Technological and Commercial Joint Stock Bank (Techcombank - HoSE: TCB) has just announced documents to collect shareholders' opinions in writing.

Accordingly, the bank plans to consult shareholders on approving the plan to increase charter capital in 2024 through issuing shares under the employee stock option program (ESOP).

Techcombank plans to issue an additional 19.8 million ESOP shares.

At the same time, amend and supplement the regulations of the Board of Directors (BOD), the Supervisory Board and the Internal Governance Regulations. The latest time for collecting opinions is 4:00 p.m. on August 6.

Regarding the plan to increase charter capital, the number of ESOP shares that the bank plans to offer is 19.8 million shares, equivalent to an issuance ratio of 0.2815% of charter capital.

The issuance price is 10,000 VND/share, the total issuance value at par value is 198 billion VND. Before the issuance, the charter capital of this bank was 70,450 billion VND. If the issuance is successful, the bank's charter capital is expected to increase to nearly 70,649 billion VND.

The expected issuance date is in the third or fourth quarter of 2024, after the State Securities Commission announces receipt of full documents reporting the issuance of shares under the program. ESOP shares will be restricted from transfer within 1 year.

Techcombank's most recent ESOP issuance was at the end of 2023. The bank issued 5.27 million shares, raising its charter capital to VND35,225 billion.

On the stock market, at the end of the session on July 29, TCB shares stopped at 22,750 VND/share. Thus, the ESOP issuance price is now half the market price.

In a recent development, Techcombank has completed the issuance of 3.52 billion common shares with a par value of VND 10,000/share to existing shareholders at a 100% issuance ratio.

Rights exercise ratio 1:1 (shareholders owning 1 share receive 1 right to receive shares, 1 right to receive shares receive 1 new share).

After the issuance, the total number of outstanding shares of the bank increased from 3.5 billion shares to 7.05 billion shares. Accordingly, the charter capital increased by 35,225 billion VND to nearly 70,500 billion VND.

Source: https://www.nguoiduatin.vn/techcombank-muon-phat-hanh-198-trieu-co-phieu-esop-204240729191414316.htm