Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) announced the information on the Ho Chi Minh City Stock Exchange (HoSE). Bui Cam Thi and Bui Hai Ngan, the two daughters of Bui Hai Quan, will each purchase 20 million shares.

The transactions are scheduled to take place from August 25th to September 23rd, either through order matching or agreements. Neither Thi nor Ngan currently own any VPB shares. If successful, each will hold 0.25% of the bank's capital. Bui Hai Quan currently owns over 156 million VPB shares, representing 1.97%.

This transaction comes as VPB shares have increased nearly 90% since the beginning of the year, reaching 35,400 VND per share. Each daughter is expected to spend approximately 692 billion VND.

VPB share price performance. Photo: Vietcap.

VPB share price performance. Photo: Vietcap.

Established in 1993, VPBank is currently the 6th largest bank in Vietnam by total assets, reaching 1.1 quadrillion VND. In the first half of the year, the bank reported pre-tax profits of 11,229 billion VND, a 29.5% increase compared to the same period last year.

As of August 20th, VPBank's market capitalization reached 274,500 billion VND (over 10 billion USD), ranking 6th on the stock market. According to the bank, the recent increase in VPB share price reflects the positive first-half business results and investor expectations from the initial public offering (IPO) of VPBankS.

VPBankS, a company 99.9% owned by VPBank, is expected to IPO later this year. The company has a charter capital of 15,000 billion VND and achieved 722 billion VND in pre-tax profit in the first half of the year.

Trong Hieu