Nam A Commercial Joint Stock Bank will issue nearly 111 million shares to raise its charter capital from VND3.89 trillion to VND5 trillion (US$214.6 million).

Nearly 44 million shares will be sold to existing stakeholders and 16.7 million shares in an employee stock ownership plan (ESOP) at the offering price of VND10,000 each.

The rest will be issued publicly at a price no less than market value and book value. Registry to buy shares will be open from June 23 to July 13.

The bank’s ESOP shares are being issued from June 15 to July 4 and ESOP shares will be restricted from transfer for one year.

The bank expects to collect more than VND1.1 trillion from the share issuance, which would be used to improve its financial capacity, expand its operation network, found subsidiary companies and increase charter capital from VND3.89 trillion to VND5 trillion.

At the end of May, Nam A Bank’s stakeholders voted to hold the shareholders’ meeting online. The bank planned to hold shareholders’ meeting on March 28 but the meeting was delayed due to the COVID-19 pandemic. — VNS