Japanese bank holds 15 percent stake in Vietcombank

SGGP
The State Bank of Vietnam’s Governor has recently allowed Japanese bank Mizuho to buy more shares of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to maintain its ownership ratio of 15 percent via private placement.
Through this private placement, Mizuho has bought 16,666,431 new shares of Vietcombank to keep its stake in Vietcombank at 15 percent.
Earlier, Singaporean investor GIC Private Limited bought 94,442,442 new shares of Vietcombank, raising its stake to 2.55 percent.
Thus, the investments from Mizuho and GIC have helped to increase Vietcombank’s charter capital to VND37.1 trillion (approximately US$1.6 billion).
After the aforesaid transactions, the current ownership ratio at Vietcombank is: State Bank of Vietnam 74.8 percent, Mizuho 15 percent, GIC Private Limited 2.55 percent and other shareholders 7.65 percent.
In related news, a signing ceremony was held at Consulate General of Japan in Ho Chi Minh City on January 28 to give nonrefundable financial aid to four grassroots projects, worth $350,512. The four projects consist of medical equipment for Medical Center in Vinh Long Province’s Tra On District and General Hospital in Dong Thap Province’s Hong Ngu District, boarding houses for To Hieu Semi-boarding School in Dak Lak Province’s M’Drak District and Bay Chuoi pumping station in An Giang Province’s An Phu District.

By Nhung Nguyen, Thanh Hang – Translated by Thuy Doan

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