(Vietnam) – Vietnam’s East Asia Joint-stock Commercial Bank (EAB) is raising equity by a third through a share placement to VND160 billion (US$10.7 million).A total of VND30 billion in shares are being sold to current shareholders at a face value of VND2 million (US$133) each, with staff taking up most of the balance at VND2.5 million per share.
This is the first of two capital raisings, with the Bank planning to raise a further VND40 billion in the 4th quarter, possibly diluting its 2001 profit/equity ratio of 54.8 percent.