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Stock prices "evaporate" more than 28% after three days of listing, Techcombank shareholders receive "bitter"

Wednesday - 06/06/2018 21:49
With the share price dropping too quickly, the money of many shareholders of Techcombank also followed that "shrink" strongly.
On June 4, over 1,165.5 million TCB shares of Vietnam Technological and Commercial Joint Stock Bank (TECHCOMBANK) were officially traded on HOSE with the reference price of VND 128,000 / share, capitalized at VND 149 trillion copper. 

With a margin of 20%, TCB shares were allowed to trade at VND102,400-153,600 / share.
stock prices evaporate more than 28 after three days of listing techcombank shareholders receive bitter cophieuviet com

However, contrary to expectations and expectation of many investors before, in the opening session, millions of TCB shares were registered with the floor price of 102,400 dong / share, capitalization Techcombank also "flying" nearly 30 trillion.

After ATO, selling volume continued to increase while buyers were white on price list.

In the second session on HOSE, TCB continued to gain profit and dropped to 96,000 dong per share. At the same time this code matched to 136 billion.

The situation did not improve at the end of the session on Tuesday after the listing on June 6, TCB shares continued to sink in red, closing at 92,000 dong per share, equivalent to loss. up to 28.1% in three sessions, capitalization also "evaporated" nearly 42 trillion.

With the price of shares falling too quickly, the money of many investors at Techcombank also followed that "shrink" strongly.
Remembers at the end of April, Techcombank has sold more than 164 million common shares to foreign institutional investors at the price of 128,000 VND / share, also the price for listing.

The offering helped the bank mobilize about 21,000 billion VND, equivalent to nearly 922 million USD. To this point, temporarily calculated the investment value of these shareholders have "evaporated" to 5.906 billion, to 15,095 billion.

Meanwhile, with the large holdings of TCB, the assets of Ho Hung Anh, Techcombank's chairman and other related persons have also declined sharply in the past three days.

Currently, Techcombank's family holds a total of 198.4 million shares, equivalent to 17.0275% of the bank's chartered capital. Compared with the floor, the property of Hung Anh family has lost more than 7,144 billion. Techcombank's sole shareholder, Masan (which holds 14.99% of chartered capital), has also "evaporated" VND6,291 billion since June 4.

Previously, at the roadshow to introduce investment opportunities, responding to investors wondering whether the listing of shares at 128,000 is too expensive or not, Techcombank leaders said that this price is not Techcombank Decision that due to the needs of investors. Foreign shares registered to buy more than $ 4 billion in treasury shares also answered this question.

Bank leaders also said that the price of each share is not as significant as the value of the whole organization. Moreover, after the listing, the bank will pay dividends by shares ratio 1: 2, the stock price will be adjusted to more than 40 thousand is not too high.

According to a notice from the bank, on June 14, Techcombank will hold an extraordinary shareholders' meeting in 2018 to submit to shareholders the plan to supplement the chartered capital from the bank's equity.

Accordingly, Techcombank charter capital is expected to increase three times, from the current 11,655 billion to 34,965 billion. Over BIDV, becoming the bank with the third largest charter capital in the system.

Capital sources include profit after tax of VND5,828 billion; supplementary chartered capital of VND3,497 billion; estimated capital surplus of VND13,986 billion.

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