SeABank closes the right to pay dividends in shares and receive issued shares to increase capital

Southeast Asia Commercial Joint Stock Bank (SeABank, HOSE: SSB) has just announced the closing of the list of shareholders to pay dividends in shares and issue shares to increase equity capital from equity on August 26, 2024. After 2 rounds of share issuance, SeABank's charter capital will increase to VND 28,350 billion.

SeABank's charter capital will increase to VND 28,350 billion.

Accordingly, SeABank will issue 329 million shares to pay dividends in 2023 and issue an additional 10.3 million shares to increase equity capital, equivalent to a total ratio of nearly 13.6%. August 26, 2024 is the last registration date to exercise the right to receive dividends and receive shares issued to increase capital from equity. After completing the above two share issuances, SeABank's charter capital will increase by VND 3,393 billion, from VND 24,957 billion to VND 28,350 billion. This plan is part of the capital increase roadmap approved by SeABank's 2024 Annual General Meeting of Shareholders and based on the written approval of the State Bank and the State Securities Commission. In 2024, the Bank will also issue 45 million ESOP shares in 2024 to selected employees based on seniority and performance criteria. In addition, SeABank plans to issue up to 120 million shares in private placement and/or issue shares to convert debt to continue increasing charter capital to VND30,000 billion. This plan will be implemented in 2024 or 2025. Increasing charter capital is important for SeABank to comprehensively grow its indicators, especially promoting the implementation of the growth and sustainable development (ESG) strategy. In particular, the Bank sets a business target for 2024 with pre-tax profit reaching more than VND 5,888 billion, an increase of 28% compared to 2023. Source: https://nhandan.vn/seabank-chot-quyen-chia-co-tuc-bang-co-phieu-va-nhan-co-phieu-phat-hanh-de-tang-von-post826128.html