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Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank – Code: VCB) has just announced that July 19th is the record date to exercise the right to attend the extraordinary General Meeting of Shareholders (GMS) in 2024. The meeting is expected to be held on August 19th at the 12th-floor hall, Vietcombank Tower, 198 Tran Quang Khai, Hoan Kiem District, Hanoi.
The agenda of the meeting is to approve the plan to issue private placement shares to increase Vietcombank’s charter capital (Capital Increase Plan for 2024), elect additional members to the Board of Management and Supervisory Board for the term 2023 – 2028, as well as amend certain contents in the Articles of Association, internal regulations, and other matters within its competence.
Vietcombank’s plan to offer a 6.5% stake through a private placement, first announced in 2019, is yet to be completed. The bank intends to offer 307.6 million shares to Mizuho Bank (46.1 million shares) and other investors (261.4 million shares).
At the 2023 Annual GMS, former Vietcombank Chairman Pham Quang Dung shared that the plan to issue private placement shares to foreign investors was at the stage of hiring consulting organizations. According to the plan, Vietcombank will carry out the private placement for foreign investors in the period of 2023 – 2024.
At the recent 2024 Annual GMS, Vietcombank Board member Do Viet Hung stated that the implementation of the private placement plan would depend on market conditions. “Depending on market conditions, the bank will organize a conference to introduce the opportunity to investors and shareholders, both domestic and foreign. We plan to do this in 2024 and successfully issue the 6.5% private placement shares by 2025,” said Hung.
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