Vietcombank Asked to Conduct IPO Within 2007
Deputy Prime Minister Nguyen Sinh Hung has signed a decision to ask the Bank for Foreign Trade of Vietnam (Vietcombank) to make the initial public offering (IPO) within 2007.
Vietcombank will have to conduct IPO first, and then sell stake for foreign strategic investors later.
The strategic partners will be allowed to buy Vietcombank shares at around average prices in the IPO.
Vietcombank has discussed with some investors such as Nomura, Goldman Sachs and General Electric. The official partner will be selected after the share sale.
As previous plan, Vietcombank will sell 6.5 per cent stake, equivalent to VND1 trillion in face value, in the IPO. (Vietnam Economic Times, Youth)
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