The HCMC Housing Development Bank (HDB) has announced plans to scale up its chartered capital via share and bond sales. The bank aims to boost capital from VND500 billion to VND2 trillion this year.
The share issue will be launched into two phases.
In the first phase, HDB will issue nearly 170,000 shares at a face value of VND1 million each in next quarter to pay dividends.
The bank will also sell 315,000 shares at VND2 million each to existing shareholders and issue nearly 17,000 shares to staff members at preferential prices.
The bank aims to have chartered equity worth VND1 trillion when this issuing phase is closed in early July.
In the second phase planned for the year’s end, the bank’ board of directors will consider issuing shares or convertible bonds to big corporations or foreign banks who can help HDB develop technology, management and expand its network.
The bank aims to almost double its total assets to VND7.9 trillion and set VND167 billion in pre-tax profit this year.
HDB also plans to set up a securities offshoot, a fund manager, a real estate and a finance leasing firm.
Source: Thanh Nien
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