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BIDV sells 603 million shares to KEB Hana Bank

Update: November, 04/2019 - 16:19


Customers do transaction at a branch of BIDV in Hà Nội. Photo

HÀ NỘI — The Bank for Investment and Development of Việt Nam (BIDV), one of Việt Nam's four largest State-run commercial banks, has completed its issuance of 603.3 million shares to South Korea's KEB Hana Bank.

The shares were issued under the form of private placement, with a price of VNĐ33,640 (US$1.44) per share and have been restricted from transfers for the next five years.

Total proceeds from the offering reached more than VNĐ20.3 trillion ($868 million). After deducting nearly VNĐ27 billion of issuance costs, BIDV collected more than VNĐ20.27 trillion.

After the issuance, the bank's charter capital has increased by VNĐ6 trillion from VNĐ34.2 trillion to more than VNĐ40.2 trillion.

KEB Hana Bank is now a major shareholder of BIDV, holding 15 per cent of the bank. — VNS



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