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Techcombank prepares for UPCoM listing
Around 887.8 million shares of Techcombank were deposited at the Vietnam Securities Depository (VSD) on Tuesday, the first step to trading shares on the Unlisted Public Company (UpCom) market.
The shares of Techcombank, or the Vietnam Technological and Commercial Joint Stock Bank, have been deposited under the code TCB.
The value of the registered shares is VND8.878 trillion (US$394.6 million), which is VND8.878 trillion of its charter capital, under the certification for trading registration issued by the VSD on Monday.
Techcombank said the deposit was made to comply with a finance ministry circular, which requires all unlisted public companies to register for trading on UpCom no later than December 31, 2016.
The registration is necessary to increase the liquidity of Techcombank shares and will improve its standing because of transparency in disclosing information.
The bank posted a post-tax profit of VND2.29 trillion for the first nine months of 2016, a year-on-year increase of 89.5 per cent. Its total assets are worth VND222.7 trillion, up 16 per cent compared to last year’s figures.
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