SeABank SSB Trades on HOSE -- Capitalization exceeds USD1 billion after ATO

News provided by

Mar 29, 2021, 07:04 ET

HANOI, Vietnam, March 29, 2021 /PRNewswire/ -- Over 1.2 billion shares of Southeast Asia Commercial Joint Stock Bank (SeABank, Vietnam - Stock code: SSB) opened trade on HOSE at USD 0.73 per share.

On conclusion of the ATO session over 10 million units had been requested, well above the buying ceiling, as a final sale of 826,000 units successfully traded. After the first week trading on HOSE, SSB had the ceiling 3 consecutive sessions to USD1 per share, thereby the bank market capitalization reached more than USD1.2 billion, up 37 percent compared to the reference price.

Listing and trading on the HOSE enhancing the Bank’s domestic and international reputation and demonstrating Vietnam’s pacey socio-economic development.

Listing and trading on the Ho Chi Minh City Stock Exchange enhancing the Bank's domestic and international reputation and demonstrating Vietnam's pacey socio-economic development.

Madame Nguyen Thi Nga - SeABank Standing Vice Chairman, said: "With SeABank shares now listed and trading on Ho Chi Minh City Stock Exchange we have reached a significant milestone. Today's success affirms SeABank's strength and brand position in the market and demonstrates our transparency and liquidity which has helped deliver the maximum benefit to our shareholders, and all of which will attract more domestic and foreign investors in coming days."

Underpinning SeABank's strong position, on March 18, 2021 for the third consecutive year, top 3 international credit rating organization, Moody's, confirmed the Bank's long-term local and foreign currency deposit and issue rating as B1. And, revised the outlook for the long-term local and foreign currency deposit and issue ratings as "STABLE".

Moody's recognized SeABank in terms of capital adequacy, profitability from retail banking, a healthy balance sheet and very good liquidity. This appraisal was an excellent validation of the Bank's financial capacity and risk management, further strengthening its reputation with domestic and international organizations, investors, partners and customers.

Today, with 27 years of experience in the Vietnamese banking landscape behind them, SeABank's charter capital puts it in the top 10 private commercial banks nationwide with a growing network of 180 transaction centers serving 1.6 million customers. In 2021, SeABank expects to see a further 10% growth in assets, 15% growth in net interest income, 50% growth in non-interest income and 39.6% growth in pre-tax profits when compared to 2020.

SOURCE SeABank