Vietnam SHB Plans to Raise Cap to VND3.5T
Saigon-Hanoi Commercial Joint Stock Bank (SHB) plans to increase its registered capital by 75% to VND3.5 trillion by using proceeds from its issue of VND1.5 trillion worth of convertible bonds, the Vietnam Securities Depository said on its website.
The Ho Chi Minh City-based listed lender will offer VND1 trillion of bonds to its existing shareholders and VND500 billion to foreign stakeholders.
The move aims to supplement SHB’s working capital, and help it modernize card technology system and establish a jewelry trading limited company.
Vietnamese
