Vietinbank Plans to Hike Capital, Set up New Subsidiaries in 2009
Vietnam JS Bank for Industry and Trade (CTG), or Vietinbank, plans to increase its registered capital and set up three new subsidiaries this year.
The Hanoi-based listed lender said in a statement that it will establish a jewelry trading company, a fund management company and a life insurance company.
No more details about the capital hike and these subsidiaries have been made available at the moment.
At present, Vietinbank, which has a registered capital of VND11.253 trillion, lists 121.21 million shares on the Hochiminh Stock Exchange with a market capitalization of over VND35.3 trillion.
As approved by the government, Vietinbank will sell a 10% stake to foreign investors in 2010 to boost its capital size.
CTG shares closed flat at VND30,800 on 187,600 shares traded on Nov 18, including 47,760 shares bought by foreigners. (vietinbank)
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