VPBank shares see heavy buying as SMBC negotiates stake increase

Proprietary trading desks have significantly increased their holdings of VPBank (VPB) shares, purchasing over 1,900 billion VND worth of stock between September 8 and September 28. This accumulation occurred alongside a roughly 20% rise in the stock price since late July.

The surge in interest follows reports that Sumitomo Mitsui Banking Corporation (SMBC) is negotiating to increase its ownership stake in VPBank from 15% to approximately 20%. Discussions regarding valuation and the potential for SMBC to acquire shares directly on the market are reportedly ongoing, with a goal to finalize the transaction within the year.

Additionally, VPBank's general meeting of shareholders previously approved a private placement of over 624 million shares to an unnamed foreign investor, valued at approximately 14,300 billion VND based on recent market prices.