Vietcombank to sell 10 percent stake to foreign investorsThe Commercial Bank for Foreign Trade of Vietnam (Vietcombank) is planning to sell more than 350 million shares, or a 10 percent stake, to foreign investors in the first half of 2018. The shares will be issued by way of public auction or private placement to a limited number of foreign investors. Vietcombank is among a small number of banks that have a 9.12 percent stake reserved for foreign investors, according to Linh Nguyen from Saigon Securities Research. To raise capital by issuing shares, Vietcombank originally expected to complete the transfer of a 7.7 percent stake to GIC in 2016. Vietcombank shares closed at 71,400 VND (3.14 USD) on February 23, having doubled in value since the end of 2016.

Source: VietNamNet News February 27, 2018 03:33 UTC