VPBank to issue shares and raise chartered capital

Viet Nam Commercial Joint Stock Bank for Private Enterprises (VPBank) announced that it was approved to raise the chartered capital for first phase of 2008 by the State Bank of Vietnam-Hanoi branch and issue separate shares by State Securities Commission.

Accordingly, VPBank will issue 11,747,433 shares at 10,000 dong par to the foreign strategic shareholder Oversea Chinese Banking Corp Limited (OCBC).

After the share issue, the bank's chartered capital will be risen to more than 2.117 trillion dong.

Currently, the bank share is traded at 11,000-13,000 dong on the informal stock market.