OCB to hike chartered capital to 1.7tr dong

Saturday, April 26, 2008
Orient Commercial Joint Stock Bank (OCB)'s shareholders' meeting recently passed the plan to hike its chartered capital from the current over 1.111 trillion dong to about 1.7 trillion dong through issuing more shares.

Particularly, the bank will issue bonus shares to existing shareholders at the ratio of equalling to 33% of their total holding. Then, another 2.5 million shares will be sold to the bank's employees. Finally, 20 million shares will be offered the strategic partner BNP Paribas, bringing the foreign investor's size in the local lender to 15%.

In addition, OCB will also offer a share volume to selected external shareholders.