EAB issues additional 150m shares to raise chartered capital to 6tr dong

East Asia Commercial Joint Stock Bank (DongABank – EAB) held the annual shareholders meeting on March 12. In the meeting, the lender sought for approval to raise its chartered capital from 4.5 trillion dong to 6 trillion dong via offering 150 million shares to public.



In details, EAB planned to offer 60 million shares for existing shareholders under the ratio of 15:2 at price of 10,000 dong per share. At the same time, the bank also offer 90 million shares for strategic, foreign partners at similar offered price. The lender planned to start the share issuance in Q4 of 2011.



Last year, EAB reported gaining total asset value of 55.873 trillion dong, increasing by 31.4 percent against that of the beginning of 2010, while total raised capital of 47.756 trillion dong, up 30 percent and total outstanding loans of 38.436 trillion dong, up 10.8 percent year-on-year.



The bank’s accumulative combined pre-tax profit was posted at 858 billion dong, an increase of 8.86 percent against that of 2009, fulfilling 78 percent of the year plan. Of which, EAB’s pre-tax profit counted for 806.3 billion dong, up 68.4 percent year-on-year, EAB Overseas Remittance Co of 20.35 billion dong, EAB Securities Co and Fund Management Co of 30.7 billion dong.



This year, EAB targeted to reach whole year asset value of 55.873 trillion dong, up 25 percent against that of 2010; total raised capital of 60 trillion dong, up 25.6 percent and pre-tax profit of 1.3 trillion dong, up 51.6 percent. The lender planned to pay 2011 dividend at 15 percent ratio at least.

Tags: Vietnam business, Vietnam business news

Posted by backlinkxzsbuy on Mar 14 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry