Bao Viet Commercial Joint Stock Bank (BVBank - UPCoM: BVB) has just announced the Board of Directors' Resolution on implementing the plan to issue shares to the public for existing shareholders in 2024.
Accordingly, BVBank plans to offer a maximum of nearly 69 million shares to the public at VND10,000/share, with the total expected maximum offering value at par value being VND69 billion. 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.
Regarding the plan to ensure compliance with foreign ownership ratio regulations, according to BVBank, at the time of closing the shareholder list on September 16, 2024, the bank had 33 foreign shareholders holding 453,291 shares, equivalent to 0.082% of the total outstanding shares.
To ensure the 5% ratio as prescribed, BVBank will coordinate with the Vietnam Securities Depository and Clearing Corporation to distribute additional shares to foreign investors and economic organizations with foreign investors holding more than 50% of charter capital according to the holding ratio of foreign shareholders at the time of closing the list of shareholders exercising rights.
Since the right to purchase offered shares is not transferable, the exercise of the right will always ensure compliance with the regulations on foreign ownership ratio at the bank.
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).
Last July, the State Bank also approved the bank's capital increase plan.
After completing the above issuance plans, BVBank's charter capital will increase from VND 5,016 billion to VND 6,408 billion.
In August 2024, BVBank also 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.
Source: https://www.nguoiduatin.vn/bvbank-sap-phat-hanh-69-trieu-co-phieu-de-tang-von-dieu-le-204241001170939789.htm
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