The Viet Nam Securities Depository (VSD) just announced the adjustment of the foreign ownership rate of Sahabank (SHB) to a maximum of 30 per cent.

The bank extended its room for foreign ownership from 10 per cent to a maximum of 30 per cent. The adjustment took effect on March 4.

According to the provisions of a decree on the purchase of shares of a Vietnamese credit institution by foreign investors, the ownership rate of foreign investors must not exceed 5 per cent of the charter capital for individuals; not more than 15 per cent for foreign organisations; and not more than 20 per cent for strategic investors.

Last August, SHB temporarily locked the foreign ownership ratio at 10 per cent to implement the plan of offering and issuing shares approved by the 2021 Annual General Meeting of Shareholders.

In the latest issuance, the bank has successfully offered more than 539 million shares to existing shareholders, raising the charter capital to more than VND26.67 trillion (US$1.17 billion).

Recently, SHB has finalised the 2022 Annual General Meeting of Shareholders at 1:30pm on April 20. Accordingly, the last registration date to make a list of shareholders attending the meeting is March 15, and the corresponding ex-dividend date is March 14.

The bank has yet announced the document of the 2022 shareholder meeting. However, at the meeting, SHB will vote for the Board of Directors and Supervisory Board for the new term 2022-2026. — VNS