SHB Private Placement: VinaCapital, Dragon Capital, KIM and Other Major Funds Sign Agreements to Subscribe to SHB Private Placement Shares

Saigon-Hanoi Bank (SHB) signed a contract on 9 April in Hanoi to place 200 million shares via a private placement, with participation from major domestic and international institutions.

SHB CEO Ngo Thu Ha said the involvement of large investors confirms the bank’s credibility and position in the financial market. She added that professional investors will help accelerate SHB’s development by strengthening its capital base and improving risk governance in line with international standards, describing the deal as both the start of a successful transaction and a long-term milestone for sustainable growth.

Private placement size and regulatory status

SHB plans to privately issue 200 million shares to professional investors, equivalent to about 4.35% of total shares before the issuance. The Vietnam Securities Commission has issued a letter acknowledging receipt of SHB’s private placement filing.

Registered professional investors

The registered professional investors include groups linked to Dragon Capital, with purchases of 34 million shares through Vietnam Enterprise Investments Limited, Samsung Vietnam Securities Master Investment Trust (Equity), and Hanoi Investments Holdings Limited.

A group linked to Korea Investment Management (KIM) registered to buy nearly 13 million shares through KIM Vietnam Growth Equity Fund, TMAM Vietnam Equity Mother Fund, KITMC Worldwide Vietnam RSP Balanced Fund, and KITMC Worldwide China Vietnam Fund.

Hanwha Life Vietnam and VinaCapital registered to buy 12.5 million and 10.55 million shares, respectively. Other institutional participants include PVI Asset Management (62.5 million shares), PVI Infrastructure Fund (25 million shares), FPT Capital (29.96 million shares), and HPP (12.5 million shares).

Saigon Hanoi Securities (SHS) serves as the exclusive advisor for SHB’s private placement, supporting access to a broad mix of professional investors domestically and internationally.

Role in SHB’s capital-raising plan

The private placement is part of SHB’s capital-raising plan targeting total capital of VND 53,442 billion. The plan includes issuing 750 million new shares, covering private placement, a rights issue to existing shareholders, and an employee stock ownership plan (ESOP).

After completion, SHB expects to add over VND 10,000 billion in capital, positioning it among the top four private Vietnamese banks. The bank said the plan aims to balance shareholder and staff interests and has drawn strong market attention.

Investor perspective

At the event, Trịnh Quỳnh Giao of PVI Asset Management said the fund’s participation reflects long-term confidence in SHB’s leadership and growth prospects. She stated that, from an asset-management perspective, the fund values institutions with scale, efficient operations, and sustainable growth potential, and expects SHB’s leadership to translate new capital into growth, value, and improved positioning for shareholders and customers, contributing to Vietnam’s economic development.

Capital, risk governance and funding outlook

SHB said it aims to strengthen its capital base and risk governance to meet Basel international standards, improving financial resilience and expanding access to international financing opportunities. In 2025, SHB secured two mid-term USD syndicated loans under ESG criteria totaling USD 600 million and is negotiating external funding of up to USD 1 billion.

With a reinforced capital base, SHB targets further expansion in 2026, including the planned transfer of the remaining 50% stake in SHB Finance to Krungsri (MUFG) by Q2 2026. SHB said the move is expected to free up surplus capital and allow the bank to focus resources on core business segments.

Financial performance and dividend policy

SHB reported that its 2025 pre-tax profit reached VND 15,028 billion, up 30% year-on-year and above its annual plan. The bank maintains a stable dividend policy of 16–18% in cash and stock in recent years, with 2025 dividends forecast at 16% (6% cash and 10% stock).

Market positioning and next steps

SHB’s stock is among the earliest listed in VN30. In 2025, SHB was named “Bank Stock of the Year” by FChoice, recognizing its scale, liquidity, governance, and transparency. The article also noted that Vietnamese equities were upgraded and SHB is expected to be included in the FTSE Global All Cap index, which could open access to passive capital from global ETFs and index funds.

SHB said it aims to be the most efficient bank, the leading digital bank, and a top supplier of funding and financial services to both private and state sectors, supported by a green and growth-focused ecosystem. By 2035, SHB aspires to be a modern retail bank, a green bank, and a top digital bank in the region.

SHB will hold its annual general meeting on 22 April at Melia Hanoi.