The joint stock Viet Nam Export Import Bank (Eximbank) announced it plans to sell stakes to 16 strategic shareholders on June 20.
They include the Asia Commercial Bank (ACB), confectioner Kinh Do Group, Ban Viet Securities Investment Company, aviation service firm Sasco, and the Saigon Post and Telecommunication Company.
Together they will acquire 500,000 shares for 4 trillion VND (250 million USD), or at eight times their face value.
This strategic placement is part of the bank’s plan to increase its capital this year to 2.8 trillion VND (175 million USD) from 1.2 trillion VND (75 million USD), according to chairman Nguyen Thanh Long.
”Eximbank and its strategic partners will cooperate in various areas including products and services, clientele, and network,” he said, adding, for instance, non-banking partners would use Eximbank’s services. They would also make joint investments.
Source: VNA
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