Over 306 Million LPBank Shares Change Hands in Nine Sessions; Buyers Unknown
From November 3 to 13, more than 306 million LPBank shares changed hands through negotiated trades worth nearly VND 10.286 trillion, equivalent to about 10.25% of its outstanding shares. Average trade prices remained close to the daily floor, while the buyers and the extent of any net change in ownership remain unknown.
Over the nine trading sessions from November 3 to 13, more than 306 million shares of LPBank (Ngân hàng TMCP Lộc Phát Việt Nam) changed hands through negotiated trades worth nearly VND 10.286 trillion. The volume equaled about 10.25% of the bank’s outstanding shares, with a weighted average price of approximately VND 33,586 per share. Negotiated trades accounted for 95.3% of the stock’s trading volume and 95% of its trading value during the period.
Negotiated trades accounted for more than 95% of LPBank’s trading volume over nine sessions, with more than half of those shares traded in the final two sessions.（VietVance）
Trading was concentrated on November 12 and 13, when more than 163 million shares changed hands through negotiated trades, accounting for about 53.2% of the nine-session total. In every session, the average negotiated trade price was about 5.8% to 6.7% below the reference price and just VND 100 to 400 above that day’s floor price. The trading volume and price pattern do not establish that the trades involved the same buyer, seller or transaction arrangement.
LPBank’s average negotiated trade price remained close to the daily floor and was as much as about 6.7% below the reference price.（VietVance）
During the same period, neither foreign investors nor securities firms’ proprietary trading accounts bought or sold LPBank shares through negotiated trades, although both continued to trade the stock through order matching. Available trading data also do not fully distinguish between Vietnamese individuals and institutions involved in the negotiated trades. The buyers’ identities, the number of participants and the number of shares acquired by each remain unclear. The cumulative trading volume may include shares that changed hands more than once and cannot be treated as the amount of equity that changed ownership on a net basis.
LPBank’s July 27 list of shareholders holding at least 1% of its charter capital showed that Tổng công ty Bưu điện Việt Nam held 6.537% of the bank, Phạm Nhật Vượng held 4.894%, and Phạm Thu Hương held 4.965%. The latter two are related shareholders whose combined direct holding was 9.859%. These figures reflect ownership when the information was disclosed in July; available information does not confirm that those shareholders took part in the November trades or that their holdings changed. Under Vietnam’s Law on Credit Institutions, shareholders must update information on changes in ownership that meet disclosure requirements within seven working days, and the bank must publicly disclose that information within seven working days of receiving it.
The three LPBank shareholders identified in July’s disclosure held a combined total of nearly 490 million shares, equivalent to about 16.396% of its charter capital.（VietVance）
Source: VietVance
