Vietnam's Military Bank raises $191 mln via share sale
Vietnam's Military Bank raises $191 mln via share sale
Military Commercial Bank, Vietnam's sixth-largest partly private lender by assets, said it had raised 4.29 trillion dong ($191 million) via selling new shares to four domestic institutional investors.
The share sale is part of the Hanoi-based lender's plan to boost financial strength by increasing its registered capital by 38 percent to 16 trillion dong, a project approved by shareholders at a general meeting on April 21.
The bank sold all the 390.61 million shares on offer at an average price of 11,077.5 dong each to five firms, of which the military-run telecoms giant Viettel bought nearly 61 million shares to retain its 15 percent stake, Military Bank said in a statement issued late Friday.
The fully state-owned State Capital Investment Corp bought 160 million MBB shares, becoming a new investor in the lender with a 10 percent stake, the bank said.
Three other Vietnamese firms, which are existing investors in the bank, have bought the remaining stocks in the sale that was completed on Friday, Military Bank said.
MBB shares were traded up 2.01 percent at 15,200 dong each, a one-week high, at 0303 GMT on Monday.
