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
- Vietnam’s c.bank sells USD to stabilize exchange rate
- Central bank to auction gold to calm domestic market
- Vietnam's Central Bank ready to steady foreign exchange market
- 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
Trending
-
Where do Vietnamese prefer to go for their next holiday?
-
Vietnam news in brief- April 19
-
Cultural similarities provide basis for Vietnam-Italy cooperation in various fields
-
Colorful stage shows in Hoan Kiem Lake pedestrian area
-
It happened as it had to happen
-
Hanoi street where dead appliances come back to life
-
Vietnam’s economy urged to rely on internal strengths to weather global uncertainties: ADB
-
Vietnam, Thailand advance realization of “Three Connections” strategy
-
MICHELIN Guide sets its sights on Vietnam’s central region
-
Liên kết hữu ích
- Vay tiền money cat chuyển khoản 24/7