SeABank completed increasing charter capital to VND 28,350 billion

Southeast Asia Commercial Joint Stock Bank (SeABank - HoSE: SSB) has just issued a document reporting the results of the share issuance to increase equity capital from equity capital.

Accordingly, the bank has completed the issuance of 10.3 million shares to shareholders with an exercise ratio of 100:0.4127 on August 26, 2024. The issuance source is the equity surplus as of December 31, 2023 according to the bank's audited separate financial statements of more than VND 106 billion.

SeABank said it has distributed more than 10.29 million shares to 7,175 shareholders and has 3,069 remaining shares that have not been distributed yet. The expected time for transferring shares is September 2024.

All odd shares and undistributed shares will be handed over to the SeABank Headquarters Trade Union to manage as a source of bonus shares for the bank's employees according to the temporary personnel policy decided by the Board of Directors.

Previously, on August 21, the bank also announced the closing of the list of shareholders to pay dividends in shares and issue shares to increase share capital from equity on August 26, 2024.

Accordingly, in addition to issuing an additional 10.3 million shares to increase equity capital from equity sources, the bank also issued 329 million shares to pay dividends in 2023 and own, equivalent to a total ratio of nearly 13.6%.

After completing the above two issuances, the total number of outstanding shares of SeABank is more than 2.83 billion shares, equivalent to the bank's charter capital increasing by VND 3,393 billion, from VND 24,957 billion to VND 28,350 billion.

The above issuance is part of the capital increase roadmap approved by SeABank's 2024 Annual General Meeting of Shareholders (AGM) and on the basis of written approval from the State Bank and the State Securities Commission.

In 2024, the bank will also issue 45 million ESOP shares in 2024 to employees selected based on seniority and performance criteria.

In addition, the bank plans to issue up to 120 million shares in a private placement and/or issue shares to convert debt to continue increasing its charter capital to VND30,000 billion. This plan will be implemented in 2024 or 2025.

According to SeABank, increasing charter capital is important for the bank to comprehensively grow its indicators, especially promoting the implementation of the sustainable growth and development (ESG) strategy.

Source: https://www.nguoiduatin.vn/seabank-hoan-tat-tang-von-dieu-le-len-28350-ty-dong-204240829184352554.htm