SHB to increase its FOL to 30 per cent
 |
In August, SHB temporarily locked its FOL at 10 per cent to execute the plan of selling and issuing securities authorised by the annual general meeting of shareholders.
In the current sale, the bank has successfully offered more than 539 million shares to existing shareholders, thus boosting its charter capital to more than $1.16 billion.
Last year, SHB entered a strategic agreement to sell its consumer finance arm, SHB Finance, to Ayudhya Bank (Krungsri) of Thailand – a member of Mitsubishi UFJ Financial Group from Japan.
SHB had transferred 50 per cent of SHB Finance's charter capital to Krungsri. The remaining 50 per cent ownership would be transferred to the Thai bank after three years.
The size of the deal is around $156 million.
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Tag:Related Contents
Latest News
More News
- Assessing gold prospects for the rest of 2024 and beyond (October 26, 2024 | 10:48)
- ACCA welcomes 116 new members in Vietnam (October 26, 2024 | 10:45)
- Public debt indicators remain in alignment with expectations (October 25, 2024 | 15:37)
- SACE and SCIC sign MoU to strengthen cooperation between Italy and Vietnam (October 25, 2024 | 11:13)
- EVN Finance signs $30 million loan package with Dutch bank FMO (October 24, 2024 | 18:07)
- Year-end credit growth driven by industrial sector (October 24, 2024 | 14:34)
- Major bancassurance deals may be at peak (October 24, 2024 | 14:28)
- Banks' profit picture in Q3 creates mixed sentiment (October 24, 2024 | 11:44)
- Liquidity pressure “substantial” on Vietnam’s banks (October 23, 2024 | 21:00)
- Remittance fee drop could boost economy (October 23, 2024 | 19:00)
Mobile Version