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VIB to issue over 543 million bonus shares

The Saigon Times

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HCMC – Vietnam International Commercial Joint Stock Bank (VIB) planned to issue over 543.6 million bonus shares to existing shareholders at 35% from the owner’s equity to increase charter capital.

The bank has announced May 16 as the last registration date for receiving the bonus shares. The ex-dividend date will be May 13.

After the bonus share issue, VIB is expected to raise its charter capital from VND15.531 trillion to VND21 trillion.

This plan comes from the bank’s capital needs for investment projects in technology systems, networks, and credit extension, meeting the capital adequacy ratio in business.

Based on its plan of raising charter capital successfully, VIB eyes VND10.5 trillion of profit for 2022, up 31% against the 2021 figure. Its total assets, total outstanding credit, capital mobilization targets will rise 30% at VND402 trillion, VND265 trillion, and VND280 trillion, respectively.

In the local stock market, VIB closed 1.54% lower at VND38,400 today, May 10.

As for the benchmark VN-Index of the Hochiminh Stock Exchange, it added 23.94 points, or 1.89%, against the previous session at 1,293.56

On the Hanoi bourse, the HNX-Index improved 2.05% versus yesterday to close at 330.02 points.

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