VNStockNews.com - Saigon Hanoi Commercial Joint Stock Bank announced that the State Securities Commission has in principle approved for the bank to offer shares to public in order to increase chartered capital from two trillion dong to 3.5 trillion dong.
Under the decision No 1547/UBCK-QLPH dated on May 28, 2010, SHB was allowed to issue 150 million shares, equal to total share value of 1.5 trillion dong with the purpose of raising chartered capital to 3.5 trillion dong.
The fact that SHB hikes chartered capital would create favourable conditions for the bank in expanding business operation activities, improving competition capacity, investing in material base to meet the development demands in the coming years, to achieve the goal of becoming a modern, multifunctional retail bank by 2012.
Previously, the bank had offered successfully 15 million convertible bonds last March so that up to the end of Q1 of 2011, the bank's chartered capital will be raised to five trillion dong.
