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ABBank (ABB) seeks to hike capital through rights issuances of shares

Apr 14th at 06:34
14-04-2021 06:34:34+07:00

ABBank (ABB) seeks to hike capital through rights issuances of shares

ABBank plans to increase its charter capital by 65 percent to VND9.4 trillion ($407 million) through rights issuances of shares to existing shareholders.
Inside an ABBank office. Photo courtesy of ABBank.

There will be two issuances, one each in the second and third quarters of this year, the Hanoi-based lender said in a plan it outlined to shareholders.

The bank, established in 1993, plans to use the money raised for expansion and ensuring capital adequacy.

It targets increasing pre-tax profits by 44 percent this year to VND1.97 trillion. It achieved 10 percent profit growth last year.

Vnexpress

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