SeABank is about to increase its charter capital to 28,800 billion VND

Southeast Asia Commercial Joint Stock Bank ( SeABank - HoSE: SSB) has just announced the Board of Directors' Resolution on implementing the plan to issue shares to increase charter capital to VND 28,800 billion.

Accordingly, SeABank also plans to issue an additional 45 million shares under the employee stock option program (ESOP) in 2024.

In addition, the bank plans to issue 329 million shares to pay dividends in 2023 and issue 10.3 million shares to increase equity capital from equity sources. The expected implementation time is in the second and third quarters of 2024.

After completing the share issuance, SeABank's charter capital is expected to increase from VND24,957 billion to VND28,800 billion, equivalent to an increase of VND3,843 billion.

Previously, SeABank's 2024 Annual General Meeting of Shareholders approved the above charter capital increase plan. At the same time, the State Bank also issued a document approving the bank's capital increase plan.

In addition, SeABank plans to offer up to 120 million shares in a private placement and/or issue shares to convert debt at an expected offering price of VND10,000/share, helping the Bank's charter capital increase by VND1,200 billion to VND30,000 billion.

Issuance in one of two forms or both: private offering of shares to professional securities investors or issuance of shares to swap debt with foreign partners. Expected offering time in 2024-2025 according to approval of State agencies.

This issuance plan will replace the private issuance plan of 94.6 million shares approved by the 2023 General Meeting of Shareholders. At the end of 2023, SeABank stopped implementing the plan to offer private shares to the Norwegian Investment Fund for Developing Countries (Norfund).

In early June, the State Bank issued a Decision approving the adjustment of the charter capital on SeABank's Operating License from VND 24,537 billion to VND 24,957 billion.

Accordingly, SeABank's charter capital increased by VND 420 billion through the issuance of 42 million ESOP shares in 2023 at a preferential price for more than 2,000 managers and employees who meet the criteria of seniority, work efficiency, and position group.

In the stock market, in the latest development, Ms. Nguyen Thi Nga, Standing Vice Chairwoman of the Board of Directors of SeABank, completed the purchase of 1 million SSB shares in the session on June 27, increasing the number of SSB shares held from 97.23 million shares (3.90%) to 98.23 million shares (3.94%) .

Source: https://www.nguoiduatin.vn/seabank-sap-tang-von-dieu-le-len-28-800-ty-dong-a671330.html