Vietnam BIDV to Offer 30 per cent Stake in IPO in H1 Next Year
The Bank for Investment and Development of Vietnam (BIDV), the country’s second largest state-owned bank by assets, plans to offer 30 per cent of its registered capital in an initial public offering (IPO) in the first half of next year.
The bank will sell a 20 per cent stake to strategic investors.
With the expected privatization, BIDV will become Vietnam’s third state-run bank to go public, following the giant Vietcombank in December 2007 and Vietinbank in December 2008.
The credit rating agency Fitch has kept BIDV’s Individual rating unchanged at “D/E” and its Support rating at “4”.
BIDV was holding up to 13 per cent of the banking system’s total assets at the end of 2008.
Vietnam also plans to privatize other large enterprises in 2010, such as VMS Mobifone, Vietnam Airlines and the Mekong Delta Housing Development Bank (MHB). (Stock Investment)
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