A Vietinbank extraordinary general meeting approved on February 26 a plan to issue 644,389,811 new shares to the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), each of which is priced at VND24,000, through a private offering.
The Japanese bank was also selected as Vietinbank’s foreign strategic partner.
Following the share issuance, scheduled to be completed in Q1 or Q2 this year, BTMU will hold a 19.73% stake in Vietinbank while the State will hold a 64.46% stake.
IFC and its affiliates will hold an 8.03% stake with the remaining 7.78% held by other shareholders.
In 2012, Vietinbank’s total assets increased 9.3% to VND503.605 trillion (US$24.17 billion) while credit growth stood at 13.5%.
