Vietnam Bank News

Sai Gon-Ha Noi Bank to issue shares   2009-06-11 - Viet Nam News

Sai Gon-Ha Noi Commercial Bank, the second bank listed on the Ha Noi market, announced on Tuesday that it had deposited VND1.5 trillion (US$84.3 million) worth of unlisted shares with the Viet Nam Securities Depository Centre in preparation for listing an additional 150 million shares on the northern market this year.

At present, about 50 million shares, representing a fourth of the bank’s charter capital, are listed on the Ha Noi bourse, so the additional listing aims to meet requirements for listed enterprises.

At present, about 50 million shares, representing a fourth of the bank’s charter capital, are listed on the Ha Noi bourse, so the additional listing aims to meet requirements for listed enterprises.

In the first five months of this year, Sai Gon-Ha Noi Bank earned VND163.7 billion ($9.2 million) in profits. During the same period, the bank recorded total assets of VND16 million and deposits totalling VND13.3 trillion ($747.2 million).

The bank planned to pay an 8-per-cent dividend on first-half earnings, with shareholders required to register by June 20 for participation in the dividend payout.

Hien also confirmed that the bank was speaking with potential strategic partners from the US, Australia and the United Arab Emirates, with results of those negotiations expected this year.

He revealed that the bank allocate proceeds from a convertible bond issue this year towards raising the bank’s charter capital to VND3.5 trillion ($196.6 million).

SHB shares closed yesterday at VND37,900 per share.

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