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Central bank approves Mizuho purchase of Vietcombank shares
Tuesday,  1/29/2019, 14:10 

Central bank approves Mizuho purchase of Vietcombank shares

The Saigon Times Daily

The headquarters of Vietcombank – PHOTO: VIETNAMPLUS

HCMC – The governor of the State Bank of Vietnam has just issued a decision approving Japan-based bank Mizuho to buy more shares of Bank for Foreign Trade of Vietnam (Vietcombank) to maintain the former’s stake at 15%, VietnamPlus reports.

Vietcombank said the regulatory approval had been given following the bank’s issuance of shares under private placement for the Japanese partner, which had already made payment for the deal.

Under the deal, Mizuho purchased an additional amount of over 16.66 million shares.

Apart from this deal, another investor named GIC has purchased over 94.44 million shares of Vietcombank, equivalent to a 2.55% stake, according to the news outlet under the Vietnam News Agency.

With the new share issues, Vietcombank has spurred its chartered capital to VND37.1 trillion, or roughly US$1.6 billion.

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