SMBC Bank (Japan) is allowed to buy 1.19 billion newly issued shares of VPBank

SGGPO 08/16/2023 19:09

After purchasing these 1.19 billion shares, SMBC's holding ratio accounts for 15% of VPBank's capital. The shares purchased by SMBC are restricted from transfer for 5 years. VPBank expects to collect 35,904 billion VND to increase total equity to nearly 140,000 billion VND.

SMBC Bank (Japan) is allowed to buy 1.19 billion newly issued shares of VPBank

The State Bank of Vietnam (SBV) has just sent an official dispatch to SMCB Bank (Japan), approving the proposal to buy newly issued shares of VPbank according to SMBC's documents.

The State Bank also requires SMBC to fully perform the obligations and responsibilities of a foreign investor as stipulated in the Law on Credit Institutions 2010 (amended and supplemented) and related Circulars and Decrees. Accordingly, SMBC is allowed to buy 1.19 billion individual shares that VPBank offered for sale at VND30,159/share.

Previously, VPBank estimated the time to carry out the private offering to SMBC Bank in the third and fourth quarters of 2023 after being approved by the State Bank of Vietnam and the State Securities Commission announced receipt of a complete application for private share sale.

After purchasing these 1.19 billion shares, SMBC's holding ratio accounts for 15% of VPBank's capital. The shares purchased by SMBC are restricted from transfer for 5 years. VPBank expects to collect VND35,904 billion to increase total equity to nearly VND140,000 billion.

With the proceeds from SMBC Bank from selling individual shares, VPBank will use nearly VND 35,000 billion to supplement medium and long-term capital for lending to customers, the remaining VND 905 billion will be invested in infrastructure, facilities, and information technology system development in the fourth quarter of 2023 and the whole year of 2024.

After announcing this information, at the close of trading on August 16, VPB shares increased by 1.82% to VND 22,500/share.

Source: https://www.sggp.org.vn/ngan-hang-smbc-nhat-ban-duoc-mua-119-ty-co-phieu-phat-hanh-moi-cua-vpbank-post701843.html