On May 28, 2018, the State Bank of Vietnam (SBV) issued document No.3836/NHNN-TTGSNH on chartered capital increase of Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
Accordingly, the State Bank approved VPBank’s chartered capital increase from more than 15.706 trillion dong to over 25.299 trillion dong following the chartered capital increase method approved by the annual general meeting at Resolution No.01/2018/ND-HDDCD-VPBank dated March 19, 2018 and adopted by the bank’s board of directors at the Resolution dated April 20, 2018.
SBV requires VPBank’s board of directors to be responsible for raising chartered capital following law regulations. After completing capital raising procedures, VPBank is in charge of submitting documents requesting the amendment of chartered capital at the License to the State Bank.
At 2018 annual general meeting, bank shareholders approved capital raising plan to 27.799 trillion dong through five share issuances: issuing shares to existing shareholders to make dividend payment and make bonus payment at 30 percent; issuing ESOP with the total par value of nearly 337 billion dong; issuing separate shares at the maximum ratio of 15 percent prior to the issuance; making dividend payment from the capital surplus from the separate share issuance; issuing bonus shares from treasury shares after acquiring dividend preference shares.
