Illustrative image (Photo: VNA) Hanoi (VNA) - TheJoint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) plans toincrease its charter capital for the 2020-2021 period by paying dividends in sharesand issuing additional shares, according to documents of the upcoming annualshareholders’ meeting scheduled for June 26.
Investors will receive a maximum of18 shares for every 100 they currently hold.
The bank’s charter capital will increase to over 43.7trillion VND (1.9 billion USD) under the plan.
Meanwhile, the second plan is to issue 241 millionnew shares, or 6.5 percent of the bank’s total charter capital, of which 204.9million will be offered to investors.
Its strategic investor, Japan’s Mizuho Bank, will stillhold at least 15 percent of shares.
If successful, the lender could increase its chartercapital to almost 39.5 trillion VND.
If Mizuho is to purchase more shares and increase itsownership to 20 percent, it would be eligible to appoint one more member toVietcombank’s board of directors if permitted to do so by the State Bank ofVietnam.
The plan is expected to push Vietcombank’s capitaladequacy ratio to over 9 percent while its return on average equity will bearound 22 percent./.
Investors will receive a maximum of18 shares for every 100 they currently hold.
The bank’s charter capital will increase to over 43.7trillion VND (1.9 billion USD) under the plan.
Meanwhile, the second plan is to issue 241 millionnew shares, or 6.5 percent of the bank’s total charter capital, of which 204.9million will be offered to investors.
Its strategic investor, Japan’s Mizuho Bank, will stillhold at least 15 percent of shares.
If successful, the lender could increase its chartercapital to almost 39.5 trillion VND.
If Mizuho is to purchase more shares and increase itsownership to 20 percent, it would be eligible to appoint one more member toVietcombank’s board of directors if permitted to do so by the State Bank ofVietnam.
The plan is expected to push Vietcombank’s capitaladequacy ratio to over 9 percent while its return on average equity will bearound 22 percent./.
VNA
