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VietinBanksells 20% stake to Bank of Tokyo

Update: May, 20/2013 - 11:20

HA NOI (VNS)— Viet Nam Industry and Trade Joint Stock Bank (VietinBank) has finished selling nearly 20 per cent of its shares to Japan's Bank of Tokyo-Mitsubishi UFJ (BTMU).

The sale involved total net revenues of more than VND15.4 trillion(US$733 million), the bank said.

It said that it had totally sold 644.38 million shares at VND24,000($1.12), adding that there was a condition that they could not be transferred for five years.

After the sale, BTMU Capital owns 19.73 per cent of VietinBank. The above shares have been approved by Vietinbank director board, the Vietnamese bank said.

Accordingly, VietinBank now has the charter capital of VND32.66 trillion ($1.5billion) of which shareholders account for 64.46 per cent and BTMU 19.73 per cent.-VNS

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