On February 13, 2020, the State Bank of Vietnam (SBV) issued Document No. 763/NHNN-TTGSNH approving an increase in the charter capital of VPBank Finance Company Limited (VPB FC) from VND 7,328 billion to VND 7,333 billion in accordance with the Plan of recapitalization dated November 17, 2019, which had already been approved by the competent authority.
VPB FC is responsible for implementing the procedures of recapitalization in accordance with the 2006 Securities Law (as amended and supplemented), the 2014 Law on Enterprises, and the relevant guiding documents; amending and supplementing the substance of charter capital in its License upon completion of the recapitalization in line with Article 9 of Circular No. 25/2017/TT-NHNN dated December 29, 2017 of the SBV stipulating the dossiers, sequences and procedures of approving changes applied for non-bank credit institutions and other applicable regulations.
The Document is valid for a duration of 12 months from the date of signing. The Document will cease to be valid in case that the recapitalization plan of VPB FC is not implemented as scheduled.
Le Hang