Vietnam: Techcombank earns over $370m from treasury share sale

Vietnam: Techcombank earns over $370m from treasury share sale

Vietnam Technological and Commercial Joint Stock Bank (Techcombank), which raised $922 million via an IPO last month, has announced that it has completed the sale of 64.4 million treasury shares to investors, equivalent to 5.58 per cent of charter capital.

The bank told local media that the second treasury share sale was conducted between April 27 and May 7 through the State Securities Committee. At an average transaction price of VND 128,000 ($5.6) apiece, Techcombank is said to have earned VND8.43 trillion ($370.9 million) from the sale of treasury shares.

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