SeABank just announced that it will pay dividends and issue bonus shares with a total ratio of 20.3 per cent to raise charter capital to more than VND24.5 trillion (US$1.03 billion).

The plan is part of the capital raising roadmap approved by the 2023 Annual General Meeting (AGM) of Shareholders of SeABank and the State Bank of Vietnam (SBV).

The bank will issue 295.2 million shares at a rate of 14.5 per cent to pay 2022’s dividends and more than 118.2 million bonus shares with a ratio of 5.8 per cent.

Once the issuances are successfully completed, SeABank's charter capital will increase by more than VND4.13 trillion ($174 million) to VND24.5 trillion ($1.03 billion).

The gain in charter capital is an important milestone in SeABank's long-term vision, helping strengthen its financial capacity to achieve its goals, which include implementing a digital convergence strategy, investing heavily in technology, comprehensively digitising operating processes in credit, payments, customer service activities, and diversifying products and services.

It aims to improve operational and transaction efficiency, improve customer experience, and better meet the needs of all clients.

Previously, SeABank successfully held the 2023 AGM of Shareholders, in which it secured the approval of many important resolutions.

It is expected to increase its charter capital to a maximum of VND25.9 trillion under the plan of issuing shares to pay dividends and bonus shares at a rate of nearly 20.3 per cent, offering private shares to foreign investors at a rate of more than 4.6 per cent, and issuing shares under the employee stock option plan (ESOP).

On the stock market, the bank's shares are traded on the Ho Chi Minh Stock Exchange (HoSE) with the ticker symbol SSB. The company ended Wednesday at VND27,300 a share. — VNS