Report on the use of fund raised from 2011 equity issuance for chartered capital increase
In order to implement Resolution No 04/NQ-ĐHĐCĐ on May, 31st, 2011 of Annual General Meeting of Shareholders 2011 on the increase of Vietinbank’s charter capital and Certificate public offering of shares No 118/UBCK-GCN issued by State Securities Commission of Vietnam on Nov, 18th, 2011, Vienam Joint Stock Commercial Bank for Industry and Trade successfully completed the offering process to the current shareholders as follows:
- The total number of shares distributed is 337,162,027 shares, equivalent to 20% of the total shares, representing 100% of the total number of shares registered for sale.
- The total amount received: 3,371,620,270,000 VND.
VietinBank has recorded the increase of charter capital on Dec, 28th, 2012 following the Certificate of Business Registration.
This total capital was used to supplement Vietinbank’s working capital in accordance with the plan of capital increase approved by Annual General Meeting of Shareholders and Law.
On the basis of the capital increase plan, as at Dec, 31st, 2012, Vienam Joint Stock Commercial Bank for Industry and Trade has used the capital raised from the issuance in 2011 as follows:
- Increasing Credit: 1,618 billion VND;
- Expanding the network: 242 billion VND;
- Investing in infrastructure, technology and developing new services: 500 billion VND;
- Expanding investment activities, joint ventures activities and capital contribution: 1,012 billion VND.
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