BVBank officially increased its charter capital to 5,500 billion VND

Bao Viet Commercial Joint Stock Bank (BVBank - UPCoM: BVB) has just announced that it has received Decision No. 2222 dated October 2, 2024 of the State Bank of Vietnam on amending the charter capital content in the bank's Operating License.

Accordingly, BVBank's charter capital was officially adjusted to VND5,518 billion. In the consolidated semi-annual financial report for 2024, the bank's charter capital is nearly VND5,016 billion.

By August 2024, BVBank had informed about the results of the issuance of 50.2 million shares to increase capital from equity at a rate of 10%, corresponding to shareholders owning 100 shares will receive 10 newly issued shares.

Accordingly, the bank has issued more than 50.16 million shares to 11,260 shareholders and has 1,785 shares remaining. The capital for the issuance comes from undistributed after-tax profits. After the issuance, the bank's charter capital increased by VND502 billion to VND5,518 billion.

This plan was approved by the 2023 Annual General Meeting of Shareholders (AGM) but was not implemented last year. Therefore, BVBank decided to continue implementing this plan this year.

In early October, the bank also announced its plan to offer up to 69 million shares to the public at VND10,000/share, with an expected total maximum offering value of VND69 billion at par value. The ratio of the number of shares registered for additional offering to the total number of outstanding shares is 12.5%.

The exercise ratio is 8:1. On the last registration date to exercise the rights, shareholders holding 1 share will receive 1 right and every 8 rights will buy 1 additional issued share.

The expected offering time is in 2024 and the first and second quarters of 2025, after the State Securities Commission issues a Certificate of registration for offering and discloses information according to regulations.

In 2024, BVBank plans to increase its charter capital by issuing nearly 69 million shares to existing shareholders at a ratio of 8:1 (shareholders own 1 share multiplied by 1 purchase right) and issuing 20 million shares under the employee stock option program (ESOP).

After completing the above issuance plans, BVBank's charter capital will increase from VND 5,016 billion to VND 6,408 billion.

On the stock market, in the afternoon session of October 9, BVB shares were traded at a price 0.85% lower than the previous session at VND11,700/share with a trading volume of more than 1.1 million units.

In the past month, BVB's stock price has increased by 4.46% from the reference price of VND 11,200/share with an average trading volume of nearly 1.7 million units/day.

Source: https://www.nguoiduatin.vn/bvbank-chinh-thuc-tang-von-dieu-le-len-5500-ty-dong-204241009143413497.htm