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Vietnam: Vietinbank to increase charter capital.
Section: Business News - Vietinbank's shareholders meeting on Sunday approved a proposal to increase the bank's charter capital from VND18 trillion (US$947.4 million) to VND20 trillion (just over $1 billion), as well as a plan to pay a dividend of 14-15 per cent.
To raise additional capital, the Hanoi-based bank will issue 351.1 million new shares to existing shareholders at VND10,000 each.
The bank has also received in-principle approval to sell a 10-per-cent stake to the International Finance Corporation (IFC) in the third or fourth quarter of this year and was still waiting on approval to sell another 15 per cent to Canada's Nova Scotia Bank, with the possibility …
