SeABank to offer over 181.3 million shares to shareholders

SeABank offers more than 181.3 million shares to its existing shareholders to raise its charter capital to $731 million. Photo tinnhanhchungkhoan.vn

Hà Nội — Southeast Asia Commercial Joint Stock Bank (SeABank) has received approval for its public offering of over 181.3 million shares to existing shareholders at a price of VNĐ15,000 (US$0.66) per share.

The bank is expected to collect VNĐ2.72 trillion ($119.8 million) from the issue with a ratio of 12.2633:100 to improve its financial capacity, step up business activities, maintain stable operation and raise charter capital to VNĐ16,598 billion ($731 million).

Shareholders who want to exercise their rights to buy shares must register for the offering no later than January 18, 2022.

Previously in 2021, SeABank managed to increase its charter capital to VNĐ14,785 billion ($651 million) through public offering, ESOP scheme and stock dividend.

The bank officially listed over 1.2 billion shares on the Hồ Chí Minh Stock Exchange in March 2021 (HOSE: SSB). After the listing, the SSB price increased steadily for many consecutive sessions.

Notably, SSB’s closing price hit VNĐ45,000 ($1.98) per share on January 5, 2022, pushing SeABank’s market cap to over $2.9 billion and putting it on the list of the 10 banks with the largest cap on Việt Nam’s stock market.

SeABank was recognised among 17 influential credit institutions in Việt Nam’s banking system in 2021. It was assigned a long-term rating of B1, with a positive outlook by Moody’s for three consecutive years. — VnExpress News