Vietcombank allowed to offer over 112m shares

State Securities Commission (SSC) on May 20 granted a Certificate No 567/UBCKNN-GCN allowing Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) to offer 112,285,426 ordinary shares at the face value of 10,000 dong per share to the public.

Accordingly, VCB must carry out the share issuance within 90 days of being licensed.

After this share issuance, the bank’s chartered capital will be raised by 9.28 percent.

In 2010, the lender plans to hike chartered capital from 12.1 trillion dong to 17.587 trillion dong.

As planned, in Q4, the bank will issue 436,386,063 shares to the existing shareholders. Shareholders holding 100 old shares will have right to buy 33 new shares. The offering price will be 10,000 dong per share.

Earlier, the State Bank of Vietnam (SBV) also allowed VCB to issue long-term valuable papers totalled at five trillion dong including 400 billion dong in dong and 4.6 trillion dong in US dollar.

 

Category: Finance