Habubank Raises Registered Capital

Hanoi Building Commercial Joint Stock Bank (Habubank) has raised its chartered capital by VND1,050 billion (US$48.78 million) to VND4,050 by converting convertible bonds into ordinary shares. The Hanoi-based lender registered the new share authorized capital with the Hanoi Department of Planning and Investment from September 9, 2011.

 

The lender converted 10.5 million convertible bonds, issued in 2010 and valued at VND1,050 billion into common shares at a par value of VND10,000 in August 2011.

 

Mr Nguyen Van Bang, President of Habubank, said: “The capital increase is a crucial requirement for the bank to enhance its competitiveness with banking operation safety regulations now tightened and the business environment changing very fast.”

 

The new 105 million shares are expected to be listed on the Hanoi Stock Exchange in October, 2011.