Bản Việt Commercial Joint Stock Bank (BVBank, ticker BVB) has just closed its share offering to existing shareholders. Of about 320.4 million shares offered at VND 10,000,Doanh nghiệp Kinh tế Xanh shareholders registered and paid for almost 232.6 million, roughly 72.6%.CafeF The rest did not go unsold. Under a board decision dated October 26, 2026, BVBank allotted 87.5 million shares to 10 individual investors at the same VND 10,000, including four people who sit on the board of Vietcap Securities (VCI).Tin nhanh chứng khoán
Here are the numbers behind three questions a BVB holder will ask: how much money the bank has raised, who received the leftover shares and on what terms, and how each group of shareholders' ownership changes.
How much the bank planned to raise, and how much it has raised
On July 8, 2026, the State Bank of Vietnam approved a charter capital increase of up to VND 3,504 billion for BVBank: more than VND 3,204 billion from existing shareholders and VND 300 billion from an employee share sale.CafeF The annual general meeting on April 16, 2026 had approved the plan.Tin nhanh chứng khoán Before the offering, charter capital was just over VND 6,408 billion, or 640.82 million shares, trading on HoSE since July 21, 2026.Doanh nghiệp Kinh tế Xanh
The offering used a 2:1 ratio: holders of 2 shares could buy 1 new share. The record date was September 24, and registration and payment ran from September 29 to October 19.Tin nhanh chứng khoán
With 232.6 million shares bought through rights at VND 10,000, existing shareholders paid in about VND 2,326 billion.CafeF Nearly 87.8 million shares, about 27.4% of the offering, were not registered. Throughout the registration window, BVB closed on HoSE between VND 10,300 and VND 10,850, about 3% to 8.5% above the offer price, and closed at VND 10,450 on October 29. That is price data for the same period, and it does not explain why shareholders did or did not subscribe.
Who received the leftover shares, and on what terms
The BVBank board reallocated 87.5 million of the unregistered shares to 10 individuals at VND 10,000, worth VND 875 billion in total.Doanh nghiệp Kinh tế Xanh Ms. Tôn Minh Phương and Mr. Trần Minh Chí received the most, 18 million shares each, or VND 180 billion apiece. Those two allotments alone account for more than 41% of the reallocation.
Four people on the list sit on the board of Vietcap Securities:
- Ms. Nguyễn Thanh Phượng, Chairwoman of Vietcap: 3 million shares.Tin nhanh chứng khoán She was once on the BVBank board and did not continue for the 2025-2030 term.24hMoney
- Ms. Tôn Minh Phương, CEO and board member of Vietcap: 18 million shares.
- Mr. Tô Hải, Vietcap board member and its CEO from 2007 to 2025: 12 million shares. At the end of 2025 he held more than 17.76 million BVB shares, or 2.77% of capital.CafeF
- Mr. Nguyễn Lân Trung Anh, Vietcap board member: 2 million shares. At the end of 2025 he owned more than 15 million BVB shares.
Together, the four received 35 million shares, equal to VND 350 billion at the offer price.Tin nhanh chứng khoán
Two more people on the list are tied to BVBank itself. Mr. Nguyễn Thanh Tú, Deputy CEO in charge of HR, administration, communications and branding, received 8.5 million shares; at the end of 2025 he already held more than 9.34 million, or 1.46% of capital. Mr. Ngô Quang Trung, former CEO of BVBank, who ran the bank from 2016 to September 2025,Báo Pháp luật received 7 million shares; at the end of 2025 he held about 19.4 million, or 3.03% of capital.CafeF Mr. Trần Minh Chí, an individual shareholder of BVBank, was also an existing holder, with more than 7.16 million shares, or 1.12% of capital, at the end of 2025. The seven named people received 68.5 million shares in total; the remaining 19 million went to three other individuals.
The attached terms are what set these shares apart from those bought through rights. Both groups pay the same VND 10,000. Shares bought through rights carry no transfer restriction,Tin nhanh chứng khoán while the reallocated shares are locked for one year from the end of the offering.Doanh nghiệp Kinh tế Xanh Recipients must pay by the end of November 2, 2026. In other words, for 12 months they bear every price swing on these shares without being able to sell.
The employee share sale is moving more slowly
Alongside it, the employee share sale has reached only a small part of its target. Of 30 million shares planned, employees registered and paid for 2.34 million, about 7.8%.Doanh nghiệp Kinh tế Xanh BVBank is now distributing a further 8.65 million shares to 23 employees who meet the plan's criteria, also at VND 10,000, with registration and payment from October 27 to November 2 and a one-year transfer lock.DNSE If that tranche is fully paid, the employee sale would total about 10.99 million shares, roughly 36.6% of the plan.
How a BVB holder's ownership changes
Assume the group of 10 individuals and the employee group both pay in full by November 2. New shares issued would then be 232.58 million (bought through rights), plus 87.5 million (reallocated), plus 2.34 million and 8.65 million (employees), about 331.1 million in total. Shares outstanding rise from 640.82 million to about 971.9 million.
Take a shareholder who held 1% of BVBank before the offering, roughly 6.41 million shares.
If they subscribed in full, they gain about 3.2 million shares, for a total of about 9.61 million. Out of 971.9 million shares outstanding, their stake is about 0.99%. The small slip comes from the employee shares. The reallocated shares do not cost this holder any ownership, because they are the portion no one registered for.
If they did not subscribe, they still hold 6.41 million shares, but their stake falls to about 0.66%, so their share of the bank shrinks by about a third. For a small shareholder, the direct effect is that shares outstanding rise about 52% while they contribute no new capital: each existing share is tied to a smaller slice of profit, unless the bank's profit grows by a matching amount.
For the 10 individuals, the arithmetic is different. They pay the same VND 10,000, while BVB's market price in recent sessions has been a few percent above it. In exchange, the shares are locked for a year.
Final charter capital will be clear only after November 2
If both groups receiving reallocated shares pay in full, BVBank raises about VND 3,311 billion more, lifting charter capital to about VND 9,719 billion. That is below the roughly VND 9,912 billion that completing both plans would give, and about 94.5% of the VND 3,504 billion ceiling the SBV approved.Doanh nghiệp Kinh tế Xanh The gap sits mainly in the employee sale, where about 19 million shares have no buyer yet, plus about 0.3 million shares from the shareholder offering that have not been reallocated.
The capital goes into a bank that is growing. At September 30, 2026, BVBank's total assets exceeded VND 145,200 billion, up 9.2% from the start of the year, and outstanding loans exceeded VND 85,540 billion, up 9.3%.Tin nhanh chứng khoán
The date to watch is BVBank's issuance result announcement after November 2. It will show whether the 10 individuals and 23 employees paid in full, and what charter capital actually stands at. If paid in full, charter capital is about VND 9,719 billion and shares outstanding about 971.9 million. If short, capital is lower and the dilution for shareholders who did not subscribe is slightly milder. The updated shareholder list that follows will show the actual stakes of the people named in the reallocation.