Vietnam Vietcombank To List On Bourse Jun 30: HOSE CEO

The Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank) will likely float its 112.3 million shares, 9 per cent of its registered capital, on Ho Chi Minh City Exchange on Jun 30, CEO of HOSE told the online vnexpress.net.

 

“Vietcombank has completed listing papers and submitted to HOSE with its wish to hit the bourse within June,” CEO of HOSE Tran Dac Sinh said.

 

An official of the bank who declined to be named said the bank’s chairman board will convene June 20 to make a final decision on the starting price, VnExpress said.

 

Vietcombank had sold out 97.5 million shares in its first public offering (IPO) in late 2007 with average price of VND107,860/share.

 

Recently, the bank unveiled its plans to issue 112 million shares to its existing shareholders to increase its registered capital to VND13.223 trillion from current VND12.1 trillion and so far it has yet received approval from the government, a senior official of Vietcombank said.

 

In the first quarter this year, Vietcombank said it made net profits of VND1,054 billion without giving on year comparative figures. As of March 31, the Hanoi-based bank had total assets of VND218.87 trillion and total outstanding loans of VND116.33 trillion.

 

Vietcombank has targeted pretax profit of VND3.320 trillion, total assets of VND246.37 trillion, and total outstanding loans of VND133.09 trillion this year with bad debt ratio limited at 3.5 per cent. (vnexpress.net, Vietnam Economic Times)