Vietnam's SeABank gets nod to raise 2.72 trillion dong in share sale

Southeast Asia Commercial Joint Stock Bank, or SeABank, obtained approval to raise 2.72 trillion dong through the issuance of 181.3 million shares at 15,000 dong apiece, Viet Nam News reported Jan. 15.

The fundraising, which involves the issuance to existing shareholders of 12.2633 new shares for every 100 shares held, is expected to grow the Vietnamese lender's capital to 16.60 trillion dong.

SeABank also aims to improve its financial capacity, step up business activities and keep its operations stable.

Registration for subscription to the offering will run until Jan. 18, the publication noted.

As of Jan. 14, US$1 was equivalent to 22,737 Vietnamese dong.