BIDV sells 603 million shares to KEB Hana Bank
After the issuance, the bank's charter capital has increased by VND6 trillion from VNĐ34.2 trillion to more than VND40.2 trillion.
Customers do transaction at a branch of BIDV in Ha Noi. — Photo viettimes.vn
The Bank for Investment and Development of Viet Nam (BIDV), one of Viet Nam's four largest State-run commercial banks, has completed its issuance of 603.3 million shares to South Korea's KEB Hana Bank.
The shares were issued under the form of private placement, with a price of VND33,640 (US$1.44) per share and have been restricted from transfers for the next five years.
Total proceeds from the offering reached more than VND20.3 trillion ($868 million). After deducting nearly VND27 billion of issuance costs, BIDV collected more than VND20.27 trillion.
After the issuance, the bank's charter capital has increased by VND6 trillion from VND34.2 trillion to more than VND40.2 trillion.
KEB Hana Bank is now a major shareholder of BIDV, holding 15 per cent of the bank. — VNS
Growing bad debts reaching hundreds of millions of US dollars keep pressuring BIDV, Vietcombank, and VietinBank.