Foreign investors to hold a maximum of 30% stake in PVFC

Deputy Prime Minister Nguyen Sinh Hung has requested that foreign investors be allowed to hold a maximum of 30% stake and one foreign investor be allowed to hold a maximum of 15% stake in the to-be-equitised PetroVietnam Financial Company (PVFC), according to a new document issued by Governmental Office dated October 8.

These proportions are being applied to commercial banks, including listed ones.

PVFC is currently among the biggest financial institutions in Vietnam and is also the first State-owned financial company to be equitised. PVFC’s first initial public offering, scheduled for October 19, is attracting great attention from investors. The company will offer over 59.6 million shares at an initial price of VND 51,000 a share. After equitisation, the company will have a charter capital of VND 5 trillion.

Nhandan

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