ACB buys back 16.2 million shares

Tuesday, Jul 09, 2013 15:36

Transactions at ACB. The bank has repurchased 16.2 million shares. — Photo

HA NOI (Biz Hub) ― The Asia Commercial Bank (ACB) said it repurchased nearly 16.2 million shares between June 12 and July 4, less than a third of the maximum number of shares it registered to buy back in May.

With the average transaction price at around VND16,000 (US$0.76) per share, the bank spent a total of almost VND260 billion ($12.38 million) for the reacquisition. The money came from last years undistributed profits.

ACB said that it didn't repurchase all the shares it had registered for, due to unsuitable fluctuations in the market price. In May the bank had planned to buy back between 1.7 million and 55.5 million shares, according to the State Securities Commission. ― VNS

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