Vietinbank to List Shares on Bourse in Jul: Chairman
Vietnam Bank for Industry and Trade (Vietinbank) will list its shares on the country’s main bourse-Ho Chi Minh City Stock Exchange in July, Vietinbank Chairman Pham Huy Hung was quoted by local media.
“We have submitted our listing application to the State Securities Commission. If approved, Vietinbank will list 6 per cent of capital, or 56 million shares, on the exchange in early July,” Hung said.
The bank would go ahead with listing without foreign strategic partners because world large banks who were selected to invest in Vietinbank have delayed their investment plans due to the global economic crisis, Hung noted.
The Hanoi-based lender expects to sell a 10 per cent stake to foreign partners in the first six months of 2010.
Hung expects the shares will be traded at starting price of around VND50,000.
Vietinbank plans to have a registered capital of VND12.1 trillion by the end of this year, and a net profit of VND1.95 trillion (US$114.4 million). Its credit growth rose by more than 10 per cent between January and May, which is expected at 29 per cent for the whole year. (CafeF, Young People)
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