BIDV sells 603 million shares to KEB Hana Bank

 

Customers do transaction at a branch of BIDV in Hà Nội. Photo viettimes.vn

HÀ NỘI — The Bank for Investment and Development of Việt Nam (BIDV), one of Việt Nam's four largest State-run commercial banks, has completed its issuance of 603.3 million shares to South Korea's KEB Hana Bank.

The shares were issued under the form of private placement, with a price of VNĐ33,640 (US$1.44) per share and have been restricted from transfers for the next five years.

Total proceeds from the offering reached more than VNĐ20.3 trillion ($868 million). After deducting nearly VNĐ27 billion of issuance costs, BIDV collected more than VNĐ20.27 trillion.

KEB Hana Bank is now a major shareholder of BIDV, holding 15 per cent of the bank. — VNS