Tien Phong Commercial Joint Stock Bank (TPBank) has announced that 555 million of its shares will debut on HCM Stock Exchange (HoSE) on April 19 with code TPB.

The quantity of listed shares is equal to 95 per cent of the total shares issued by TPBank so far. The starting price is VND32,000 (US$1.42) per share.

On March 21, TPBank had finalised the list of shareholders before the financial institution registered for listing on HoSE.

The Vietnam Securities Depository had stopped receiving trading orders for TPBank shares on March 20.

On Tuesday, TPBank will also finalise the list of shareholders for the bank’s annual shareholders’ meeting 2018.

Earlier in February, the bank’s shareholders passed the limitation of foreign ownership in TPBank, which is now 24.9 per cent.

This includes a 5 per cent stake held by the International Finance Corporation (IFC), a member of World Bank.

IFC bought this stake in August 2016 at a preferential price, and these shares have remained unavailable for trading and listing.

TPBank posted VND275.8 billion ($12.2 million) in pre-tax profit in the first two months of 2018, a yearly increase of 90 per cent.

The bank recorded VND1.2 trillion in pre-tax profit in 2017, and its total assets reached more than VND120 trillion. — VNS