Sign up | Log in



Home  >>   Daily News  >>Vietnam>>Economy>>Techcombank plans $231m share buyback
NEWS UPDATES Asean Affairs     June 21, 2017  

Techcombank plans $231m share buyback

The Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) on Saturday proposed that its shareholders approve a share buyback plan that will take place in 2017.

As reported by online newspaper Ng??i ??ng h?nh, the bank plans to purchase more than 221.9 million shares, equal to 25 per cent of its total outstanding shares, from current shareholders and keep those as treasury shares.

According to the draft plan that has been sent to shareholders, the buyback order will be offered to all current shareholders of Techcombank.

The buyback plan was made as the bank had posted positive earnings for years. The plan may help Techcombank indirectly pay dividend to its shareholders without putting its operation and business in jeopardy. Techcombank’s business strategy for the last several years is to use its profit to re-invest in business activities, and not to pay dividends.

The buyback price will be decided by the management board, but it must stay above VN?23,445 (more than US$1) per share and above the average share price that is calculated by at least two brokerages within 60 days prior to the date of submitting the buyback proposal to the State Securities Commission.

Techcombank is expected to spend at least VN?5.2 trillion ($231.1 million) to buy back the2 21.9 million shares if the buyback price is at the lowest level of VN?23,445 per share.

At the end of March, the bank recorded VN?232.5 trillion in total assets and VN?20.65 trillion in equity ownership capital.

Among shareholders of Techcombank is British multinational banking and financial services company HSBC, which owns 19.4 per cent of the Vietnamese bank’s charter capital.

The two financial institutions began their cooperation in 2005 and HSBC raised its ownership in Techcombank to the current level in 2008, becoming the first foreign bank to hold one-fifth stake in a Vietnamese bank.

On Thursday, Techcombank’s management board approved an agreement that allows HSBC to withdraw its entire stake in the Vietnamese bank.

Techcombank has also postponed its plan to increase charter capital to VN?14 trillion to carry out the share buyback plan. The capital-increase plan will be finalised later in 2017.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                          June 21, 2017 Subsribe Now !
• Investors shun Indonesia developer stocks amid home price surge Subcribe: Asean Affairs Global Magazine
• Techcombank plans $231m share buyback
• Philippine payments position swings to $59M deficit in May
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Government may probe NEC critics
• Dirty factories won’t leave Ha Noi
Asean Analysis                  June 17,  2017
• Asean Analysis June 17, 2017
Southeast Asia Plans for Its Own Future after Shangri-La
Advertise Your Brand

Asean Stock Watch    June 20, 2017

• Asean Stock Watch-June 20, 2017
The Biweekly Update
• The Biweekly Update  June 17, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand