With the goal of supplementing the working capital for business, focusing on its major business lines, reducing most of its financial investment, MobiFone decided to sell its shares in Tien Phong Commercial Joint Stock Bank. The details are as follows:
- Sell all 5,549,914 shares of MobiFone in TPBank, with a total par value of VND55,499,140,000.
- Minimum bid price: not lower than VND 29,510/share (valuation price in valuation certificate No. 6063/CT-VVFC/BAN3 dated 6/6/2018 by Vietnam Valuation and Finance Consultancy Company) and an average reference price of 30 consecutive trading days on the stock exchange prior to the date of announcement on the sale of TPB shares.
- Offering method: By mode of agreement and by order matching system on Ho Chi Minh City Stock Exchange.
- Targets: Investors who eligible to buy shares in accordance with Vietnam’s laws on securities and securities market.
- Estimated time: June to September 2018.
Tien Phong Commercial Joint Stock Bank (TPBank) was established on 05/05/2008, inheriting the strengths of advanced technology, market experience and financial potential of its strategic shareholders, including DOJI Gold and Gems Group, FPT Group, International Finance Corporation (IFC), Vietnam National Reinsurance Co-operation (VINARE), and Singaporean financial corporation of SBI Ven Holding Pte., Ltd.
For more details, please see the disclosure here.