South Korea’s KEB Hana Bank has officially become a foreign strategic shareholder in the Bank for Investment and Development of Việt Nam (BIDV) following a cooperation agreement with the two sides inked on Monday.
Viet Nam’s largest lender, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), on Monday announced it would issue more than 603.3 million shares as private placement to South Korean partner KEB Hana Bank.
The Bank for Investment and Development of Vietnam (BIDV) expects to issue 603 million new shares to South Korea’s KEB Hana Bank in a move to raise its charter capital to VND40.22 trillion (US$1.72 billion).
The potential strategic investor of Bank for Investment and Development of Vietnam (BIDV) is Korea’s KEB Hana Bank, reported Viet Capital Securities Company (VCSC).