Petrolimex Group Commercial Joint Stock Bank (PG Bank) has recently announced to sell 100 million shares priced at 10,000 dong per share at the ratio of 1:1.
According to information from State Securities Commission (SSC), at 4:00 pm on November 15, PG Bank will close the list of shareholders for issuing ordinary shares to double its chartered capital from one trillion dong to two trillion dong.
The time for transferring share buying right is from November 10 to 30.
The time for receiving buying registrations is from November 10 to 30.
The time for receiving money of buying shares is from November 10 to 15.
The bank’s share offering is to meet enough legal capital under the Decree No 141 issued by the prime minister on minimum chartered capital of three trillion dong at credit institutions by the end of 2010.
In addition, the bank will use this capital to diversify its capital sources and expand lending activities.
Additionally, the lender will convert one trillion dong of convertible bonds into shares to hike its chartered capital to three trillion dong. The bond conversion has got permission from the State Bank of Vietnam (SBV)’s governor since August 20, 2010.