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VNPT allowed to up maritime stake
State-owned telecommunications giant Vietnam Post and Telecommunications Groups (VNPT) can continue to contribute capital to Maritime Bank so long as it does so in amounts that ensure the solvency of VNPT’s own business operations, the Government has decided.
The group is already the leading shareholder in Maritime Bank, holding a stake of nearly 20 percent, but State-owned enterprises are now operating under an order to minimise investment in sideline businesses such as banks, securities companies or resorts.
Other leading shareholders in Maritime Bank include logistics firm Vinalines with 10.88 percent, Gemadept Corporation with 6.66 percent, and Vietnam Ocean Shipping Joint Stock Co. with 6.2 percent.
In January, Maritime Bank offered to sell an additional 75 million shares, of which 67.5 million would be sold to existing shareholders, although no shareholder would be allowed to buy shares worth more than 45 percent of the shares they already own.
Maritime Bank plans to increase its charter capital to 2.25 trillion VND (126 million USD) in the second quarter this year.
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