The increase in Vietcombank`s charter capital was funded by issuing shares to Japan’s Mizuho Bank and Singapore’s sovereign wealth fund GIC.
State-run Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has increased its charter capital to VDN37.1 trillion (US$1.6 billion) by selling a combined 3% stake in private placement to Mizuho Bank and GIC, stated the lender.
Specifically, Mizuho Bank – the largest foreign shareholder of Vietcombank, purchased an additional of 16.66 million shares so that the Japanese bank can maintain its stake holding of 15% at the Vietnamese lender. GIC also acquired 94.44 million shares to hold a 2.55% stake at Vietcombank.
This resulted in a 3% increase in the bank’s charter capital.
On December 28, 2018, the State Bank of Vietnam (SBV) tuned a green light for Vietcombank, the country’s largest bank by market value, to increase its charter capital by issuing shares to Singaporean sovereign wealth fund GIC and Japan’s Mizuho Bank.
Last October, Vietcombank submitted a proposal to State Securities Commission for the offering of a maximum of 10% stake or 360 million shares to foreign investors.
With the sale, Vietcombank expects to increase its charter capital by VND3.6 trillion (US$153.4 million) to VND39.5 trillion (US$1.7 billion).
Of the sum, the Hanoi-based lender would offer 53.9 million shares to Mizuho Bank, which is entitled to buy more shares, and another 305.8 million shares or 7.73% stake to other foreign investors through private placements.
Illustrative photo.
|
This resulted in a 3% increase in the bank’s charter capital.
On December 28, 2018, the State Bank of Vietnam (SBV) tuned a green light for Vietcombank, the country’s largest bank by market value, to increase its charter capital by issuing shares to Singaporean sovereign wealth fund GIC and Japan’s Mizuho Bank.
Last October, Vietcombank submitted a proposal to State Securities Commission for the offering of a maximum of 10% stake or 360 million shares to foreign investors.
With the sale, Vietcombank expects to increase its charter capital by VND3.6 trillion (US$153.4 million) to VND39.5 trillion (US$1.7 billion).
Of the sum, the Hanoi-based lender would offer 53.9 million shares to Mizuho Bank, which is entitled to buy more shares, and another 305.8 million shares or 7.73% stake to other foreign investors through private placements.
Other News
- Finance ministry clears bottlenecks to pave way for stock market upgrade
- Over 60% of Vietnamese use QR codes to pay
- Casinos contribute US$370 million to state budget over 5 years
- Standard Chartered and IATA partner to launch IATA Pay in Vietnam
- Vietnam’s capital market shows positive signs: Finance Ministry
- Prime Minister urges banks to cut lending rates further
- Potential upgrade to emerging status may pull US$25 billion into Vietnam’s stock market
- Vietnam to finalize legal framework for digital assets in May
- VCCI hosts 14 international investors to study Vietnam's potential
- Enhanced local trade finance in Vietnam: A potential US$55 billion annual trade boost
Trending
-
Hanoi, a city of music in the making
-
Vietnam urges respect for international law in East Sea
-
Hanoi kicks off communication contest on Dien Bien Phu victory
-
French education group Odyssey keen on strengthening cooperation with Hanoi
-
Hanoi, Shanghai strengthen investment cooperation
-
UOB Painting of the Year Award opens doors to the world for Vietnamese artists
-
Grapefruit blossom perfume Hanoi's air
-
MICE tourism: Vietnam's lucrative “golden market” unveiled
-
Vietnam: Sleep Tourism on the rise
-
Liên kết hữu ích
- Vay tiền money cat chuyển khoản 24/7