Vietcombank will issue new shares to GIC should the deal go through, the sources said on Friday. The stake is offered to GIC at a discount to market prices, the sources said, declining to be more specific. Singapore's GIC Pte Ltd is in talks to own a stake of at least 7 percent in Vietcombank , sources with knowledge of the matter said, in what would be the sovereign wealth fund's second major investment in Vietnam this year. Vietcombank has been planning to issue new shares equivalent to 10 percent of existing stock to foreign investors. A GIC spokeswoman declined to comment, while Vietcombank did not reply to a request for comment.

Source: Thanhnien News August 05, 2016 06:22 UTC