By purchasing an additional 89 million shares, Gelex has become the largest shareholder in Eximbank.
Gelex Group Joint Stock Company (stock code GEX) announced that on August 7th and 8th, the company purchased 50 million and 39 million EIB shares of Vietnam Export Import Commercial Bank (Eximbank) respectively through transactions on the Ho Chi Minh City Stock Exchange (HoSE).
With matching prices ranging from 18,350 VND to 18,400 VND per share, Gelex paid approximately 1.637 billion VND to acquire a total of 89 million EIB shares.
Following the completion of the transaction, Gelex's ownership increased from 85.5 million shares, representing 4.9%, to 174.6 million shares, equivalent to 10% of Eximbank's charter capital. This is also the maximum percentage that an institutional shareholder can own in a joint-stock commercial bank according to the Law on Credit Institutions 2024. Thus, Gelex is now the largest shareholder in Eximbank.
According to the law, investors who purchase shares of commercial banks to become major shareholders (owning 5% or more of the charter capital) must obtain approval from the State Bank of Vietnam.
Accordingly, a week ago, the State Bank of Vietnam agreed to allow Gelex to purchase shares of Eximbank through order matching or negotiated transactions on the HoSE exchange in 2024.
Source: https://nld.com.vn/lo-dien-co-dong-lon-nhat-tai-eximbank-196240812113348796.htm
