Successful issuance, VPBank earned 35,900 billion VND

10/20/2023 15:48

VPBank has just announced that it has completed the private issuance of 15% of its shares to Sumitomo Mitsui Banking Corporation (SMBC, Japan), officially making SMBC a strategic shareholder.

VPB has just completed a $1.5 billion deal with SMBC

VPBank reached an agreement to issue a private placement to strategic partner SMBC at the end of March 2023. Accordingly, the bank offered more than 1.19 billion shares to SMBC. The total value of the issuance reached more than VND 35,900 billion (equivalent to nearly USD 1.5 billion). All shares issued privately to the strategic partner will be subject to transfer restrictions within the next 5 years. SMBC deposited 10% of the offering value right before the bank's Annual General Meeting of Shareholders held in April 2023. Approximately 90% of the remaining value of the transaction will be recorded in the bank's equity immediately after the transaction is completed.

After completing this deal, VPBank's total equity will increase from VND103.5 trillion to nearly VND140 trillion. The bank's capital adequacy ratio (CAR), according to calculations by international credit rating agency Moody's, will increase to nearly 19%, leading among banks in Vietnam rated by this organization.

Source: https://www.sggp.org.vn/phat-hanh-thanh-cong-vpbank-thu-ve-35900-ty-dong-post710622.html