Song Da Finance Company allowed to increase charter capital

The State Bank of Vietnam (SBV) issued Official Letter No.6087/NHNN-TTGSNH on August 3 to permit the Song Da Joint-Stock Finance Company to increase its charter capital.

Accordingly, the Song Da Finance Company is to increase its charter capital to VND 936 billion from VND 686 billion under its recapitalization plan and the Resolution adopted by the Shareholders at the Annual General Meeting on April 15, 2011.

The Song Da Finance Company is responsible for registering and publicizing the new charter capital in line with the Law on Credit Institutions. The Company should comply with regulations related to share offering in Decree No. 01/2010/ND-CP of the Government dated January 4, 2010.

Additionally, the Company should send a report on the completion of recapitalization to the SBV (SBV branch in Hanoi ) for the new charter capital adjustment in its License.

The Company is required to complete all procedures for recapitalization within 12 months from the date of signing of this Document.

SBV

>   STB: Sacombank approved to raise capital (04/08/2011)

>   HCM: Receiving a certificate for an additional issuance of stock (03/08/2011)

>   TCL: Receiving a certificate for an additional issuance of stock (03/08/2011)

>   EVE: Notification of ESOP (01/08/2011)

>   HCC: Notice of record date for bonus share issue (01/08/2011)

>   SCR: Capital contribute for establishment of subsidiary (30/07/2011)

>   Techcombank allowed to increase charter capital (29/07/2011)

>   HRS: Increases charter capital (27/07/2011)

>   Two foreign banks allowed to increase charter capital (21/07/2011)

>   Japan's Mizuho nears Vietnam's largest ever inbound deal (21/07/2011)