Vietnam Dealbook: Alp Asia is ACB’s major shareholder; SeAbank buys VNPT arm

Photo Source: Internet Archive

Alp Asia Finance Vietnam Limited has become ACB’s major shareholder while Hanoi-headquartered Southeast Asia Commercial Joint Stock Bank (SeAbank) has officially acquired VNPT’s finance arm.

Alp Asia Finance Vietnam becomes ACB’s major shareholder

The two funds Whistler Investments Limited and Sather Gate Investments Limited, wholly owned by Alp Asia Finance Vietnam Limited, have become major shareholders in Vietnam’s Asia Commercial Bank (ACB).

A disclosure to Hanoi Stock Exchange showed that Alp Asia Finance Vietnam Limited through the two funds is holding a total of 102.2 million shares of ACB, accounting for 9.95 per cent stake. Each fund held more than 51.1 million shares of ACB, equivalent to 4.97 per cent stake.

The transaction value was approximately VND5 trillion ($220 million).

The number of shares was said to be transferred from Standard Chartered APR Limited and Standard Chartered Bank (Hong Kong) Limited as the bank sold its entire stake in ACB in January, bringing a 12-year partnership to an end.

According to an announcement by the Vietnam Depository Securities Centre, the StanChart subsidiaries transferred their combined 154.1 million shares in the Vietnamese bank.

SeAbank officially owns VNPT’s finance arm

Hanoi-headquartered Southeast Asia Commercial Joint Stock Bank (SeAbank) has officially acquired Post and Telecommunication Finance Company Limited (PTF), Vietnam Posts and Telecommunications Group (VNPT)’s finance arm as approved by the State Bank.

SeAbank earlier participated in an auction, which had a starting price of VND500 billion ($22 million), and surpassed another bank to become the owner of PTF.

At the end of December 2017, VNPT Group officially announced the auction of PTF as part of its plan to divest non-core businesses and in the run-up to its equitization by 2019.

Founded in 1998, PTF is Vietnam’s first finance company, wholly owned by VNPT, with a charter capital of VND500 billion ($22 million).

Also Read:

Vietnam banking Dealbook: ACB, MHB, MBB, STB

Standard Chartered exits Vietnam’s Asia Commercial Bank

VNPT seeks to earn $5.4m by divesting 8.52% stake in Saigon Postel

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.

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.