MHB to farm off 15% stake to strategic investors
27-MAR-2008 Intellasia | VNA
Mar 27, 2008 - 7:00:00 AM
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In line with the equitisation plan, Mekong Delta Housing Development Bank (MHB) on Monday March 24 was licensed to sell 15% of its chartered capital to strategic investors.
Strategic investor must commit long-term investments and not to transfer shares within five years from MHB officially was licensed to operate under the model of a joint stock bank.
Currently, the bank's chartered capital is 1.5 trillion dong. Its equitisation will be implemented according to the principle of keeping the state's current capital and issuing shares to attract more capital. In particular, the state holds 68.1% and the total volume of shares that will be issued accounts for 31.9%.
Among 31.9%, 15% stake will be sold to strategic investors and 13.11% will be auctioned, 1.79% to be sold to employees with a preferential price and 2% will be offered to the bank's union.
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