140 million LienVietPostBank shares to be auctioned

Vietnam Post (VNPost) will auction more than 140.5 million LienVietPostBank shares on April 21, with a starting price of VND22,908 ($0.97) per unit.

According to the Hanoi Stock Exchange (HNX), at this price, VNPost will collect at least VND3,218 billion ($135.95 million) if the sale is successful.

The subjects participating in the auction are economic organizations, social organizations, and individuals at home and abroad, according to regulations.

On the Ho Chi Minh Stock Exchange (HoSE), the LienVietPostBank (LPB) share price hit VND14,750 ($0.62) at Friday's closing session.

In November, VNPost, as approved by the central bank, said it would divest all 122 million shares or a 10.15% stake in the private bank.

At the beginning of 2022, VNPost offered to auction more than 122 million LPB shares with a starting price of VND28,930 ($1.16) per unit. The sale was unsuccessful after the registration deadline (from January 25 to February 16) to buy shares expired. Only seven Vietnamese individuals registered to buy a total of 800 LPB shares, equivalent to more than VND23 billion ($926,000).

In 2022, LienVietPostBank recorded a pre-tax profit of VND5,690 billion ($240.35 million), up 56% year-on-year and fullfilled 118% of its target.

As of January 31, 2022, the bank's total assets had increased by 13.3% compared to the beginning of the year to more than VND327.7 trillion ($13.84 billion). Of this, customer loans increased by 12.1%, reached VND230,637 billion ($9.74 billion), while provisions for loan risks increased by nearly 53.6%.