Techcombank places over 164m ordinary shares to investorsViet Nam Technological and Commercial Joint Stock Bank (Techcombank) raised about VND21 trillion ($922 million) in its initial public offering (IPO) on Friday. All of more than 164 million ordinary shares were successfully sold to institutional investors at the final price of VND128,000 (US$5.62) per share, which valued the bank at $6.5 billion. The trading of Techcombank’s shares on the HCM Stock Exchange is expected to commence on June 4 under the stock code TCB. Just as important is that a number of these funds are investing in Viet Nam for the first time, ” Nguyen Le Quoc Anh, CEO of Techcombank, said. But most importantly, investors are very bullish on the growth of Viet Nam’s middle class as its young population enters the work force.