Vietnam Bank for Private Enterprises (VPBank) on March 16 held the 2010 shareholder meeting and passed the capital increasing plan from 2.117 trillion to four trillion dong through two phases within this year.
Particularly, the bank will hike capital by 339 billion from current 2.117 trillion to 2.456 trillion dong as the first phase via issuing extra 33.9 million shares to existing shareholders in April 2010. These shares will be used to pay a dividend of 6% in shares and allocate bonus shares.
As the second phase, VPBank's chartered capital will be increased by 1.543 trillion from 2.456 trillion to four trillion dong through offering 154 million more shares with a ratio 62.83:100 between Q3 and Q4. Of the increased capital, 140.2 billion dong will be invested in technology and 290.4 billion dong in asset purchase.
About 1.451 trillion dong will be invested in stocks, valuable papers with high liquidity.
In 2010, the bank targets to earn 650 billion dong in pre-tax profit, growing by 70% year-on-year.
From 2010 to 2014, VPBank will raise its charter capital by 12 trillion dong or 467% compared with December 31, 2009, and the 2014 combined pre-tax profit is expected to be 2.8 trillion dong.
Now the bank has three prime shareholders namely Oversea Chinese banking Corp Ltd (14,88%), GP.Bank (7,42%) and Dragon Financial Holdings Limited (8,31%).
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