STB: STB and the exchange of shares of big holders

Foreign investors into Sacombank STB have recently made other investors lots of feelings – sometimes happy sometimes worried.

In the end of 2007, International Finance Corporation (IFC) informed to reduce the own volume of STB. IFC is one of the three international major financial investors into STB. The two others are Dragon Financial Holdings và Bank ANZ. IFC reduced their own volume to own 7,63% of the total STB volume. They meant to sell off 2%. That news made many people hastily sold their shares, that make the price down condiderably in some ending days of 2007.

Ms. Tran Thi Bao Ngoc have said, however, that ICF did so because they want to reconstruct their investment of Viet nam securities. They are continuing to be one of the strategic shareholders to co-operate with Sacombank to make the bank develop intensively and widely.

The amount of shares that IFC intended to sell are recommended to hold by other financial organizations. Sacombank securities company SBS will help choose who will buy the shares.

ANZ bank’s purchase in early 2008 makes individual shareholders to be relieved. The buying period deadline is March 21; however, Jan 03 2008 ANZ informed that they have bought enough as registed. It is 703,170 shares. They now own 44,488,140 shares.

For those reasons, STB’s price has been stable in the downward spiral of the total market although it has not already gained back to its highest price before.

Recently, the union of financial investors have suggested the Financial Ministry and the State Security Commision about the increasing of the owning room for forein investors up to 35-37.5%. With this, the individual Sacombank shareholders are strainedly observe the up and down of STB’s price and its information.

Enterpreted from VIR by vietnamfinance.blogspot.com
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