Vietcombank Yet Decides Listing Plan
The Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank), the biggest state-run lender going to public last year, has not decided a specific time for its listing until next year, Vietcombank Chairman Nguyen Hoa Binh quoted by the Securities Investment newspaper.
Binh said if the bank floats shares on the exchange, it would list only 97.5 million shares or 6.5 per cent stake that was offered to public last December.
Although Vietcombank (VCB) has scheduled to list its shares right after necessary procedures of shifting business model are completed, the current global and local financial turmoil may disappoint the giant lender’s desire.
Currently, VCB shares are traded at over VND30,000 each, compared with the IPO price of VND107,860.
The Hanoi-based bank has remained its profit target of VND3 trillion this year, while lowering all other business targets. It now still maintains as leading among 37 partly private banks in Vietnam. (Securities Investment)
Vietnamese
