Incombank Opens Bids for IPO advisory

The Industrial and Commercial Bank of Vietnam (Incombank or ICB) opened a tender for a consulting package for its equitisation scheme on May 7. ICB announced seven international consultants bidding for its initial public offering (IPO); namely Lehman Brothers, Merrill Lynch, JPMorgan, UBS, Morgan Stanley, Macquarie and Daiwa Security SMBC.

 

Mr Pham Huy Hung, ICB General Director, said the selection of consultants is expected to take place in the second quarter this year. The IPO is scheduled for October 2007. The winning consultant will help ICB appraise its corporate value, develop an equitisation plan, conduct domestic and international IPOs, and help ICB develop into a regional financial group.