Wednesday, September 19 2018

VietNamNews

Techcombank, TPBank finalise capital hike plans

Update: August, 17/2018 - 15:51
After the capital increase, Techcombank becomes the country’s third largest joint stock commercial bank in terms of charter capital. — Photo Techcombank
Viet Nam News

HÀ NỘI — The State Bank of Việt Nam (SBV) has recently announced the revision of licensing certificates for TPBank and Techcombank after the two banks finalised their capital hike plans.

Accordingly, TPBank’s charter capital has been revised to nearly VNĐ6.72 trillion (US$285.95 million) from VNĐ5.84 trillion previously, while Techcombank’s charter capital has increased from VNĐ11.65 trillion to VNĐ34.96 trillion.

TPBank’s additional capital was partially from the bank’s share sale in June. The bank completed the private sale of 87.63 million shares to more than 20 investors, valued at nearly VNĐ2.2 trillion in June. Among the investors, Finnish PYN Elite Fund Management, which manages assets worth 450 million euros (over VNĐ12 trillion), spent nearly VNĐ840 billion to acquire more than 33.5 million shares of TPBank. After the transaction, PYN Elite Fund owns 4.99 per cent of the bank’s charter capital.

Meanwhile, Techcombank’s capital hike was following an issue of over 2.33 billion shares worth over VNĐ23.31 trillion to 4,262 existing shareholders. After the capital increase, Techcombank becomes the country’s third largest joint stock commercial bank in terms of charter capital. — VNS

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