The Bank for Investment and Development of Vietnam (BIDV) has just asked shareholders’ opinion in writing about share offer and charter capital increase through a private placement to the foreign strategic investor, the Republic of Korea’s KEB Hana Bank. The shares for Hana Bank will make up 15% of the charter capital after the offer, equivalent to 17.65% of the current charter capital. The number of shares planned for the offer is more than 603 million shares with a total per-share value of VND6,033 billion. If the offer is successful, BIDV’s charter capital will increase to VND40,220 billion. The State currently holds 95.28% of BIDV shares and non-State shareholders 4.72%. After the share offer, the State holding will be reduced to 80.99%, KEB Hana Bank will hold 15% shares and other non-State shareholders 4.01%. Besides BIDV, another State-owned turned joint-stock commercial bank, the Bank for Foreign Trade of Vietnam (Vietcombank), has gained the State Bank of Vietnam’s approval to increase its charter capital of VND35,977 billion by 10% through private placement. Singapore’s sovereign wealth fund GIC and the current foreign shareholder, Japan’s Mizuho Bank, will be the potential buyers for the upcoming share offer. However, BIDV and Vietcombank are not… Read full this story
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