Foreign investors continuously hunted for STB shares

At the end of the session on April 9, the total volume of STB of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank, HoSE) reached 25 million shares, of which foreign investors net bought 1.7 million shares, equivalent to the value of nearly 30 billion. In the first four sessions of April, foreign investors net bought a total of 8.7 million STB shares, equivalent to a value of nearly VND 198.4 billion.

Foreign investors continuously hunted for STB shares

STB stock continued to absorb foreign cash flow strongly

On March 30 alone, foreign investors net bought more than 3.6 million shares, equivalent to VND71.2 billion, and continued to net buy more than 1.6 million shares, equivalent to VND 35 billion. Accumulated from March 30, foreign investors have been net buyers for six consecutive sessions with a total volume of nearly 15 million STB shares, equivalent to a value of more than 400 billion dong. Along with foreign transactions, the liquidity of STB stock on average is more than 50 million units per session. On March 30 alone, STB stock, with a record matching volume of nearly 100 million units, trading value over VND 1,800 billion. Following the exciting trading momentum and large net buying force, since the beginning of the year, STB’s share price has increased by nearly 22%.

So which foreign investors are foreign investors who bought so many STB shares? Up to now, this is still a mystery to domestic investors. There are many speculations that foreign investors are a portfolio swap fund (ETF) called the Fubon FTSE Vietnam ETF. The Fund’s reference index is the FTSE Vietnam 30 Index. According to the announcement, this new fund will raise capital from March 24.

Fubon FTSE Vietnam ETF belongs to Fubon Financial Holdings Group from Taiwan. This is a financial giant. As of September 39, 2020, Fubon Financial Holdings’ total assets were NT $ 8,957 billion ($ 313 billion), second in size of assets among financial companies in Taiwan. However, according to the list that Fubon announced, the proportion of this fund buying STB shares only accounted for 2.12% in the VN30 basket. Meanwhile, so far, the amount of foreign money pouring into STB continued to increase strongly.

Foreign investors continuously hunted for STB shares

One individual, Mr. Tram Trong Ngan, currently holds more than 4% of STB

Currently, STB’s foreign room rate is only 13.8%. Statistics show that on 1/4 of foreign investors buying STB shares, accounting for 11.4% of total buying transactions on the market; On April 2, they continued to buy, accounting for 6.73% of the total market transaction; April 5 is 5.96% and April 9 takes 7%. This shows the heat of STB stock. This is also the only stock in the VN30 basket with a market price below 3x. And STB also has an individual investor holding more than 4% of the STB shares is Mr. Tram Trong Ngan, with a rate of 4.73%.

In 2021, STB sets a pre-tax profit target of VND 4,000 billion, an increase of 20% compared to the previous year. Total assets by the end of the year will be 533,300 billion VND, 8% higher than 2020, credit balance will increase 9% to 372,000 billion VND and mobilized capital will increase 9% to 485,500 billion VND. The bank will control the NPL ratio below 2%.

STB’s revenue from collecting and handling bad debts in the past year reached more than VND 15,200 billion. In which, VND 8,200 billion was withdrawn from the STB Restructuring Project after the merger with Southern Bank (Southern Bank).

From 2017 up to now, STB has handled nearly VND47,000 billion of bad debts and outstanding assets under the restructuring project, bringing the ratio of backlogged assets to less than 9%.

After deducting the deduction of funds, the cumulative retained consolidated profit of Sacombank is nearly 6,496 billion dong. The Bank plans to use all of this profit to pay dividends, increase charter capital to meet shareholders’ expectation and is waiting for the State Bank’s approval.

Source: enternews.vn – Translated by fintel.vn

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