Vietnam's private lender SHB plans $128 mln private share placement to institutional investors

Saigon Hanoi Commercial Joint Stock Bank (HoSE: SHB) has released a list of professional securities investors expected to join its upcoming private share placement.

The lender plans to issue 200 million shares, equivalent to about 4.35% of its outstanding shares, to institutional investors.

The offering price has been set at VND16,850 ($0.64) per share, based on the average closing price of SHB stock over 10 consecutive trading sessions on the Ho Chi Minh City Stock Exchange (HoSE) between November 27 and December 10, 2025.

The planned issuance is projected to raise roughly VND3.37 trillion ($128.28 million).

According to the list, several major asset managers and investment funds have registered to buy SHB shares. PVI Asset Management JSC is the largest prospective buyer with a registrastion to purchase 62.5 million shares, followed by FPT Capital Asset Management JSC with 29.96 million shares.

Other notable participants include PVI Infrastructure Investment Fund, which registered to buy 25 million shares, as well as Hanoi Investments Holdings Limited with 17.5 million shares, and Vietnam Enterprise Investments Limited with 16 million shares.

Insurance and institutional investors are also among the potential buyers. Hanwha Life Insurance Vietnam and HPP Investment Fund each registered to buy 12.5 million shares.

The investor lineup also includes several regional and international funds such as Samsung Vietnam Securities Master Investment Trust (Equity), KIM Vietnam Growth Equity Fund, TMAM Vietnam Equity Mother Fund, KITMC Worldwide Vietnam RSP Balanced Fund, and KITMC Worldwide China Vietnam Fund.

SHB’s board also approved a plan to allocate the proceeds from the share placement. About VND1.69 trillion ($64.14 million) will be used to finance working capital loans and fixed-asset funding, while the remaining will support lending for production, business activities, and project financing.

Last December, the State Bank of Vietnam, or the central bank, approved SHB’s plan to hike its charter capital to a maximum VND53.44 trillion ($2.03 billion). The capital base increase, scheduled for completion in Q1, will be conducted through a rights issue, private share placement to institutional investors, and an employee stock ownership plan (ESOP). If completed, SHB will be the fourth-largest private lender by charter capital in Vietnam.

In 2025, SHB posted VND15.03 trillion ($572.06 million) in pre-tax profit, up 30% year-on-year. As of end-2025, its total assets reached nearly VND892.6 trillion ($33.98 billion), up 19% from 2024.

SHB shares ended up 1.36% to VND14,950 ($0.57) each on Thursday.