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TPBank to issue 100 mln shares through private placement

TPBank to issue 100 mln shares through private placement

The State Bank of Vietnam has green-lighted lender TPBank’s proposal to issue 100 million shares to hike its charter capital by VND1 trillion ($43.4 million). – VnExpress International

TPBank to issue 100 mln shares through private placement

A woman covers her face as she walks out of TPBank in Hanoi. Photo by Reuters/Kham.

The shares will be issued through a private placement to strategic investors and professional securities investors, and the issuance will increase its charter capital to over VND11.7 trillion. Price is not revealed.

Professional securities investors are those who do proprietary trading or offer brokerage, underwriting and investment consultancy and management services; individuals holding listed or registered securities worth at least VND2 billion or having an annual taxable income of at least VND1 billion, financial institutions, and companies with a charter capital of more than VND100 billion.

Many other lenders also plan to increase their charter capital through share issuance, and expect credit demand to rise after the pandemic.

Private lender Bac A Bank has recently received approval to hike its charter capital by 6.3 percent to over VND7 trillion by issuing 44 million shares.

State-owned lender VietinBank plans to increase its capital by 29 percent to over VND48 trillion by paying dividends in shares.

The Orient Commercial Bank will also do the same to increase its charter capital by 25 percent to VND13.7 trillion.

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