RHB Bank to acquire 49 pct of Vietnam Securities Corp.

Malaysia’s RHB Investment Bank, a subsidiary of RHB Banking Group, has won approval from the State Securities Commission to buy a stake in Vietnam Securities Corp. (VSEC).

RHB Investment Bank will acquire 6,615,000 shares, for a 49 percent sharehold, ingthrough a new share issue that will increase the chartered capital of VSEC to VND135 billion (US$8.4 million) from the current VND9 billion ($542,660).

Under an agreement RHB Investment Bank and Vietnam Securities Corp. reached in March this year, the Malaysian bank will pay the face value of VND10,000 (60 cents) per VSEC share.

VSEC was established in November 2006 in Hanoi. A year later, it was approved as a member of Vietnam Securities Depositor and accepted as a member of both HCMC and Hanoi stock exchanges. VSEC commenced trading activities in March 2007.

Thanhnien

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