Vietnam: MobiFone to divest SeABank and TPBank shares in Feb auction

Vietnamese mobile network operator MobiFone will on February 7 hold the second round of auctions to divest its shares in Southeast Asia Commercial Joint Stock Bank (SeABank) and Tien Phong Commercial Joint Stock Bank (TPBank), according to an announcement by the Hanoi Stock Exchange.

If successful, the telco expects to pocket at least VND400 billion ($17.6 million) from the auctions based on the starting price.

MobiFone had previously held an auction to sell its shares in SeABank and TPBank last April as part of its strategic plan to focus on its core businesses. However, no investor was keen to bid for SeABank’s shares while MobiFone sold only 61 per cent of its offering of 14.28 million shares in TPBank and raised VND77.7 billion ($3.4 million) at that time.

In the upcoming auction, MobiFone will sell all its 33.4 million shares in SeABank, equivalent to 6.11 per cent of charter capital in the auction, at the starting price of VND9,600 apiece ($0.4).

Also, it will auction more than 5.5 million shares in TPBank at the starting price of VND12,800 apiece ($0.5). Post the auction, MobiFone will still hold 4.76 per cent in the bank.

Also Read:

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.