The Tien Phong Joint Stock Commercial Bank (TPBank) will finalise the list of shareholders on March 21 before the bank lists its shares on HCM Stock Exchange (HOSE).

From March 20, the Vietnam Securities Depository will stop receiving trading orders for TPBank shares so that the bank can complete its listing proceedings.

In November 2017, TPBank proposed shareholders to approve its listing on HOSE. The bank also planned to sell 33.5 million shares or nearly 5 per cent stake to foreign investors and 54.1 million shares or 8 per cent stake to local investors.

In December 2017, HOSE announced it had received the listing filing from TPBank.

Under the filing, TPBank will trade 555 million shares and issue an additional 29.2 million bonus shares, taking its market capitalisation to VND5.84 trillion (US$259.5 million).

The listing is expected to raise more than $100 million for TPBank from both local and foreign investors.

According to TPBank’s financial report of 2017, its total assets increased 17 per cent year on year to VND124 trillion, while total lending rose by 35.7 per cent annually to VND62.7 trillion.

The bank’s total net revenue added 49.5 per cent year on year to VND3.17 trillion, and its post-tax profit reached VND963 billion, a yearly increase of 70 per cent.

In addition to TPBank, some other joint-stock commercial banks also plan to trade shares on HOSE, such as Techcombank and Vietnam International Bank. — VNS