Thursday, February 27, 2020 6:10:26 PM - Markets open
VN-INDEX 898.44 +2.47/+0.28%
HNX-INDEX 109.26 +2.65/+2.48%
UPCOM-INDEX 55.52 +0.18/+0.32%
BID: BIDV sells 15 percent stake to RoK’s KEB Hana Bank
VietnamPlus - 7/23/2019 10:00:08 AM
 (0 ratings. You must sign in to rate.)
 The Bank for Investment and Development of Vietnam (BIDV) will float more than 603 million new shares, or 15 percent of its stake to the Republic of Korea’s KEB Hana Bank under its resolution No.696/NQ-BIDV issued on July 22.
 
The deal will help BIDV increase its charter capital by more than 20.29 trillion VND (873.6 million USD).
 
Both banks will continue processing required procedures to complete their deal soon.
 
BIDV, among Vietnam’s leading lenders by assets, has 1.37 quadrillion VND in total assets. In the first nine months of the year, it made such achievements as being in Global 2,000 list by Forbes-an annual ranking of the world’s biggest and most powerful public company, and having credit rating upgraded one notch from B to BB- by the global ratings agency Standard & Poor’s.
 
As for KEB Hana Bank, it is a member of the Hana Financial Group - one of the largest financial corporations in Asia. Besides a strong domestic network, the bank has set up 144 transaction points in 24 countries across the world. As of June 30, KEB Hana Bank’s total assets worth 308.3 billion USD. Last year, it was recognised as the best retail bank in the RoK.
 
Acquiring BIDV’s shares will help the Korean bank expand its presence in the Southeast Asian country, whose economic performance has been stellar for years with many Korean companies venturing into the nation.
 
According to Vietnamese regulations, foreign ownership ratio at Vietnamese banks is capped at 30 percent of charter capital. The State currently owns 95.28 percent of BIDV stake. After the share sale to KEB Hana Bank, the State ownership will be reduced to 80.28 percent. -VNA
 
 
Read original article here
 
Newer News
16:42 HQC: BOD resolution on holding AGM 2020
16:41 HBC: BOD resolution on holding AGM 2020
16:40 TCD: BOD resolution on holding AGM 2020
16:40 TYA: Record date for AGM 2020
16:34 HBW: Result of transaction of connected institution (VBIC Hoa Binh JSC)
16:33 E1VFVN30: Announcement of the change of listing
16:31 PTC: PTC asks for the extension of submission of financial statements
16:31 TCL: Change of personnel
16:30 KHP: Record date for Annual General Meeting 2020
16:29 HPD: Notice of record date for Annual General Meeting of Shareholders 2020
Older News
23/07 FUCTVGF2: NAV week from 12 Jul 2019 to 18 Jul 2019
23/07 FUCTVGF1: NAV week from 12 Jul 2019 to 18 Jul 2019
23/07 FUESSV50: NAV 21 Jul 2019
23/07 FUESSV50: Announcement after exchange trading 19 Jul 2019
23/07 E1VFVN30: NAV 21 Jul 2019
23/07 E1VFVN30: Announcement after exchange trading 19 Jul 2019
23/07 LO5: Financial Statement Quarter 2/2019
23/07 LHC: Financial Statement Quarter 2/2019 (holding company)
23/07 L35: Financial Statement Quarter 2/2019
23/07 L14: Financial Statement Quarter 2/2019
 
Newsletter Signup
Top Stories
VN shares mixed, but growth expected to return
VN stocks to keep falling on disease fears
Industry 4.0 brings big changes for stock market
Reference exchange rate up 1 VND on January 17
Reference exchange rate up 1 VND on January 15
Market Update
Last updated at 3:10:01 PM
VN-INDEX 898.44 +2.47/+0.28%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.