TPBank to issue 215 million shares

21-Nov-2020 Intellasia | NDH | 6:02 AM Print This Post

Tien Phong Commercial Joint Stock Bank (TPBank, HoSE: TPB) has announced the resolution of the Board of directors to issue more than 215 million shares, pay dividends, bonus shares, and offer shares under the Employee Stock Ownership Plan (ESOP).

Shareholders will receive a dividend of 20 percent in shares, equivalent to a total additional issuance value of 163.3 million shares. The source of the issuance is the retained profit after deducting for the funds as required. The last registration date is December 1st 2020.

At the same time, the bank will issue 17.8 million shares to existing shareholders to raise its capital from equity source (reserve fund to supplement charter capital), equivalent to a rate of 2.18%. The last registration date is December 1st 2020.

In addition, the bank plans to offer nearly 34 million ESOP shares at a rate of 4.16%. The shares are restricted to transfer for at least nine months and maximum in two years from the last date of the issuance depending on the programme. The implementation time is from November 17th to December 4th.

After successfully completing the above three issuances, the bank’s charter capital will increase from 8.566 trillion dong to 10.717 trillion dong.

In the first nine months of 2020, TPBank attained a pre-tax profit of 3.024 trillion dong, up by 26%, completing 74.33 percent of the year plan. The bank’s total assets increased by nearly 26 percent over the same period of 2019, reaching more than 193 trillion dong. The bank’s total mobilisation growth was 25%, reaching 173.445 trillion dong, while the outstanding credit was 124 trillion dong, within the limit assigned by the State Bank of Vietnam.


Category: Finance, Vietnam

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