MB Plans Private Placement of 200 Million Shares; Foreign Ownership Headroom May Expand
MB plans to issue 200 million shares to six domestic institutional investors at VND 15,090 per share, raising an estimated VND 3.018 trillion. If the offering is completed and existing holdings remain unchanged, Vietcombank and SCIC would move closer to the 5% and 10% ownership thresholds, respectively, while foreign ownership headroom could increase by about 46.47 million shares.
Military Commercial Joint Stock Bank (MB) has announced a private placement of 200 million shares to six domestic institutional investors at VND 15,090 per share, with expected proceeds of VND 3.018 trillion. About VND 2.5685 trillion will be invested in information technology infrastructure and software, while VND 449.5 billion will supplement lending capital. If the offering is completed in full, its charter capital will rise from VND 100.6875 trillion to VND 102.6875 trillion.
Vietcombank plans to subscribe for 46 million shares. Based on its holding of 430,732,577 shares on September 24, 2026, its stake after the offering would be approximately 4.643% if it subscribes for the full allocation and its holding does not change before the transaction. That would be up 0.365 percentage points from about 4.278%. Vietnamese regulations generally limit a commercial bank’s holding of voting shares in another credit institution to less than 5%, subject to exceptions permitted by law.
The State Capital Investment Corporation (SCIC) plans to subscribe for 32 million shares. MB’s disclosed ownership figures for October 30, 2026, show that SCIC directly held 989,404,552 shares and indirectly held 410,000 shares through Bảo Minh, in which it owns a 50.7% stake. Based on those holdings and the proposed offering, SCIC’s combined direct and indirect stake would be about 9.951% afterward, approximately 0.049 percentage points below the 10% ownership limit for institutional shareholders. That limit is subject to statutory exceptions.
MB is maintaining its foreign ownership cap at 23.2351%. Based on foreign investors’ holding of 2,240,986,446 shares on October 30, 2026, the headroom available to them at that time was about 98.5 million shares. If domestic institutions subscribe for all 200 million new shares and foreign investors’ holdings remain unchanged, that headroom would rise to about 144.97 million shares, an increase of approximately 46.47 million shares. The new shares will be subject to a five-year transfer restriction from the close of the offering. Whether foreign investors can use the expanded headroom will still depend on the supply of transferable shares and actual trading demand.
Source: VietVance
