Sacombank sets up largest securities firm

The State Bank of Vietnam (SBV), the country’s central bank has approved the HCM City-based Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank to establish a securities company called Sacombank Securities Co with a chartered capital of 300 billion making it the biggest in Vietnam.
On June 6, Sacombank also will officially receive the listing license from the State Securities Committee (SSC) and in early July, shares of this bank will be traded on the HCM City Securities Transaction Centre or HCM City STC.
Right after listing, Sacombank will be allowed to issue extra 30,052,701 shares to raise its chartered capital from the current 1.899 trillion dong to 2.2 trillion dong, of which 20 million shares of its will be issued in public on the southern stock trading floor.

 

Category: Finance