Vietcombank prepares to sell 10% stake to foreign investorsVietcombank is expected to sell more than 350 million shares, or 10 per cent of its charter capital, to foreign investors during the first half of this year after receiving the green light from the government. Shares will be limited to a number of foreign investors through either a public or private auction. Japan’s Mizuho Bank, Vietcombank’s largest foreign shareholder with a 15 per cent stake, is entitled to buy more shares to maintain its ownership ratio. Vietcombank planned to complete the sale of a 7.7 per cent stake to GIC in 2016 but the parties failed to agree on a share price. BIDV, one of the three largest State-owned banks, is considering a stake sale of up to 30 per cent to foreign investors.

Source: VietNamNet News February 26, 2018 04:07 UTC