PG Bank approved to hand over 40% of shares to 3 new investors

Specifically, Gia Linh Import-Export and Trade Development Company Limited is expected to receive the transfer of 39.3 million shares, equivalent to 13.1% of shares.

Cuong Phat International Corporation plans to receive the transfer of 40.5 million shares, equivalent to 13.54% of shares.

Vu Anh Duc Trading JSC plans to receive the transfer of 40.1 million shares, equivalent to 13.36% of shares.

Thus, the above 3 institutional investors will receive a total transfer of 119.9 million shares, equivalent to 40% of PG Bank's charter capital.

Previously, on April 7, Petrolimex successfully auctioned 120 million PGB shares to four investors, including three organizations, the three companies above, and one individual. The average purchase price was VND21,400/share.

After divesting from PG Bank, Petrolimex expects to earn about VND2,568 billion. Meanwhile, Petrolimex's initial investment was VND1,078 billion.

PG Bank has also just announced a series of changes in senior personnel. Specifically, Mr. Nilesh Ratilal Banglorewala has submitted a resignation letter from the position of Independent Member of the Board of Directors. Mr. Oliver Schawarzhaupt has submitted a resignation letter from the position of Member of the Board of Directors for personal reasons. Ms. Duong Anh Tuyet has submitted a resignation letter from the position of Head of the Supervisory Board.

Previously, Mr. Nguyen Phi Hung resigned as General Director and was appointed as Chairman of the Board of Directors. Mr. Pham Manh Thang was appointed as Acting General Director.

The bank will complete the personnel of the Board of Directors and the Board of Supervisors at the extraordinary General Meeting of Shareholders scheduled to be held on October 23.

Source: https://vietnamnet.vn/pg-bank-duoc-chap-thuan-ban-giao-40-co-phan-cho-3-nha-dau-tu-moi-2183429.html