The Ho Chi Minh Stock Exchange (HoSE) announced on July 17 that the Saigon - Hanoi Commercial Joint Stock Bank (SHB) has joined the VN30-Index effective from August 7 to February 2, 2024.
The VN30-Index represents stocks of large-cap companies in the market with growth potential and sustainable business operations. Companies in the VN30 basket often hold leading positions in their respective fields, which investors rely on to assess market trends and make investment choices in the right industry and sector.
SHB shares enter the VN30 after meeting criteria in capitalization, free-float ratio, liquidity, and other factors related to stability and strength.
There are four exchange-traded fund (ETF) certificates referenced according to the VN30-Index and traded at HoSE, including the E1VFVN30, the FUESSVN30, the FUEMAVN30, and the FUEKIV30, with total assets estimated at VND9.137 trillion ($386.3 million).
VN-Finlead will not change in the period as SHB has been included in the index since July 2022. There is one ETF certificate (FUESSVFL) referencing this index, with assets of VND4.207 trillion ($177.8 million).
The entry into the VN30 basket serves as a test of the quality and position of SHB shares on HoSE. Its entry takes place in the context of SHB undergoing a strong and comprehensive transformation and is greatly appreciated by many international organizations.
As of July 17, SHB’s charter capital was VND30.674 trillion ($1.29 billion), ranking it in the top 5 joint stock commercial banks with the largest charter capital. On July 25, it will close the right to pay the 2022 share dividend at a rate of 18 per cent, and then issue shares under an employee stock ownership plan (ESOP). After completing procedures, its charter capital will increase to VND36.645 trillion ($1.54 billion), and equity capital under Basel II standards will reach VND67 trillion ($2.83 billion).
At the end of May, SHB and Krungsri Thailand (under the MUFG Group from Japan) announced the completion of the transfer of 50 per cent of capital in SHBFinance. This transaction will bring a significant capital surplus to SHB, creating more financial resources and foundational factors for the bank to promote business activities, especially digital transformation.
2023 marks the 30th anniversary of SHB’s establishment and is also the second year of the bank’s transformation strategy for the 2022-2027 period, in which it aims to become the No. 1 bank in terms of efficiency in Vietnam, the most modern retail bank, and the most popular digital bank in the country.