Hanoi Stock Exchange (HNX) has recently announced to cancel listing for 405 million HBB-coded shares of Hanoi Building Commercial Joint Stock Bank (Habubank) from August 17, 2012.
Accordingly, 405 million HBB shares worth 4.05 trillion dong will be cancelled listing on HNX to merge with Saigon-Hanoi Commercial Joint Stock Bank (SHB).
The last trading date for HBB-coded share on the northern bourse will be August 16, 2012.
Earlier, on August 7, 2012, the State Bank of Vietnam (SBV)’s governor issued a Decision No 1559/QD-NHNN approving the merger between Habubank and SHB.
Also in this decision, the governor withdrew Operation License No 00020/NH-GP dated June 6, 1992 by the governor for HBB and Decision No 104/QD-NH5 dated June 6, 1992 by the governor on granting operation license for HBB.
Implementing the merger, SHB is responsible for receiving all assets, rights, obligations and legal interests of HBB. Within 15 working days since the decision takes effect, SHB will have to complete procedures about business registration and merger announcement in accordance with the law. At the same time, SHB will have to perform other duties according to the relevant laws.
HBB has responsibility to transfer all assets, rights, obligations and legitimate interests for SHB and make the merger announcement, operations termination disclosure and resolve the relevant rights and obligations in line with the law within 15 working days since this decision becomes effective and perform other obligations according to related law.
This Decision will come into force from August 28, 2012.