Vietnam Posts and Telecommunications Group (VNPT) is set to auction over 6% of its capital in Vietnam Maritime Commercial Joint Stock Bank (MSB) on 26/12. This move aligns with the Prime Minister's decision on VNPT's restructuring plan, which must be completed by the end of this year. Under the plan, the group must reduce its holdings to below 50% or fully divest from 26 enterprises, including MSB.

VNPT anticipates receiving at least 3,440 billion VND from the transaction. The starting price for the shares is 18,239 VND per share, which is 1.4 times MSB's current market price. Both domestic and international institutional and individual investors are eligible to participate in this auction.

In addition to MSB, the group also plans to divest from a series of enterprises, including: VTC Telecom, Dau tu Xay dung va Phat trien Ha tang Vien thong, and Vien thong - Tin hoc Buu dien.

VNPT's headquarters in Hanoi. *Photo: VNPT*.

According to its consolidated financial statement for 2024, VNPT held over 157 million MSB shares, equivalent to 6.05% of the bank's charter capital. As of the end of 2024, the investment's value was 1,832 billion VND, compared to an original cost of 580 billion VND.

This year, MSB continued to issue shares as a 20% dividend to shareholders. Consequently, VNPT's shareholdings increased, but its original cost remained unchanged.

VNPT has been a founding shareholder of MSB (formerly Maritime Bank) since 1991. The group had previously attempted to divest from the bank multiple times without success.

For the first 9 months of this year, MSB reported a pre-tax profit of 4,760 billion VND. The bank's total assets reached 356,000 billion VND, an 11% increase compared to the end of last year.

By Trong Hieu