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Banking & Finance

MobiFone to exit SeABank and TPBank

Released at: 10:18, 24/03/2016

MobiFone to exit SeABank and TPBank

Full holdings to be sold at auction on April 25.

by Hung Nguyen

MobiFone will sell its entire stake in TPBank and SeABank via auction, according to an announcement from the Hanoi Stock Exchange (HNX).

It will conduct auction on 33.4 million shares of SeABank at an offering price of VND9,600 ($0.43) per share, or 6.12 per cent of the bank’s capital.

It will also auction 14.28 million TPBank shares, accounting for 2.57 per cent of its capital, at an offering price of VND8,900 ($0.4) per share.

At these offering prices MobiFone will secure a minimum of VND320 billion ($14.31 million) from the SeABank sale and VND127 billion ($5.67 million) from the TPBank sale.

The auctions will be conducted on April 25, according to HNX.

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