HSBC in Talks to Acquire Additional 8 per cent Stake in Bao Viet: Senior Official
HSBC, which holds a 10 per cent stake in Bao Viet Group, is in talks with the latter to acquire an additional 8 per cent stake within the year, according to a senior official of Bao Viet Group.
“If the two sides reach an agreement, HSBC will raise its stake in Bao Viet to 18 per cent,” Le Quang Binh, chairman of Bao Viet’s Directors’ Board said.
Bao Viet will float 573,026,605 shares on Ho Chi Minh City Stock Exchange with a debut price of VND38,500 this Thursday, Jun 25, with a trading band of plus or minus 20 per cent of the debut price.
In the first five months of this year, Bao Viet had revenue of VND4.055 trillion, up 6.5 per cent from a year ago, meeting 41.7 per cent of its full-year target. It made pretax profit of VND842 billion, surpassing 108.6 per cent of the year’s target. (Vietnam Law, Labor)
Vietnamese
