Orient Commercial Joint Stock Bank ( OCB ) has just announced unusual information about issuing shares to pay dividends.
Accordingly, OCB plans to issue nearly 411 million additional shares with a rights exercise ratio of 5:1 (each shareholder owning 5 shares will receive 1 right and for every 1 right will receive 1 new share).
The last registration date to close the list of shareholders exercising the right to receive stock dividends is August 30.
The source of issuance is the accumulated undistributed profit after tax up to December 31, 2023, determined according to the audited consolidated financial statements. After the issuance, OCB's charter capital is expected to increase from VND 20,548 billion to nearly VND 24,658 billion.
Previously, the State Bank approved OCB to increase its charter capital by a maximum of nearly VND4,110 billion by issuing shares to pay dividends according to the charter capital increase plan approved by the bank's General Meeting of Shareholders.
The proceeds from the capital increase will be used to purchase and build facilities (invest in information technology; upgrade assets, basic construction; equip fixed assets, labor tools) and supplement business capital and loan investment.
Of which, VND 1,204 billion is for purchasing and constructing facilities and VND 2,906 billion is used to supplement capital for business, investment and lending.
Recently, OCB also announced the list of shareholders owning 1% of charter capital.
Accordingly, OCB's strategic partner Aozora Bank, which currently holds 308.2 million shares, equivalent to 15% of the bank's charter capital, is expected to receive an additional 61.6 million shares.
In addition to the above plan, OCB also plans to offer a maximum of 882,353 individual shares with a total expected maximum offering value of more than VND 8.8 billion.
The offering price shall not be lower than the book value per share of the bank at the end of the quarter closest to the date of issuance.
OCB also plans to issue 5 million shares under the employee stock option program (ESOP) at a price of VND10,000/share.
If the above three options are successful, OCB's charter capital will increase from VND20,548 billion to VND24,717 billion.
Source: https://www.nguoiduatin.vn/ocb-chot-ngay-dang-ky-cuoi-cung-chia-co-tuc-bang-co-phieu-204240815190206278.htm
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