A Military Bank branch in Hanoi. (Photo: VNA) Hanoi (VNS/VNA) – Billions of banking stocks are about to flood the market with banks planning to pay stock dividends and issue new shares to raise their charter capital. The Hanoi Stock Exchange (HNX) has approved the additional listing of more than 498.8 million shares in Asia Commercial bank (ACB), which will be issued to pay dividends to its shareholders next month. Once completed, the bank’s charter capital will increase to nearly 21.62 trillion VND (932 million USD) from 16.63 trillion VND. Despite being the largest listed bank on the HNX, the HCM City-based lender is planning to shift to the Ho Chi Minh Stock Exchange (HoSE) in the last two months of this year. The bank’s share value is expected to rise after the move as it will be eligible to be added to the sub-indices on HoSE such as the VN30, VNDiamond, VNFinSelect and VNFinLead. Military Bank (HoSE: MBB) has also sent confirmation to the State Securities Commission (SSC) of its plan to pay dividends in shares. This bank is planning to pay a 15 percent dividend in the form of stocks and 25.6 million of its treasury shares. After the issuance, expected in the fourth quarter of this year or… Read full this story
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