BIDV to Carry out IPO in Q2 Next Year
The government of Vietnam said on November 12 that it has okayed completing evaluation of the Bank for Investment and Development of Vietnam (BIDV) by the end of the year in a bid to carry out its IPO in the second quarter next year.
Prime Minister Nguyen Tan Dung requested the bank to prepare paperwork, the personnel staff and the financial mechanism to form Vietnam financial and banking group in parallel with its privatization process.
Local and foreign players are eagerly looking to the news about the IPOs of Vietcombank and BIDV to disburse about US$3 billion, a trader with Hanoi-based Kim Long Securities said.
In September, BIDV submitted its privatization plans to the government and scheduled its IPO in the fourth quarter of the year.
Deputy Prime Minister Nguyen Sinh Hung has turned green light to the IPO of Vietcombank this year and selling stakes of Vietcombank to its strategic shareholders with the prices, which will not be lower than average prices in its IPO.
Besides, BIDV, Mekong Housing Bank will not fix its IPO in October this year, Vneconomy said. (Government’s Website, Vneconomy)
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