All Agribank affiliates to go public in 2008

The Bank of Agriculture and Rural Development of Viet Nam (Agribank) plans to equitise all of its seven affiliates this year in preparation for the bank’s initial public offerings (IPO) in late 2009.

At a press briefing in Ha Noi on January 21, Agribank General Director Nguyen The Binh said in the first quarter of this year, the bank will equitise two subsidiary companies, namely the Financial Leasing Company No. 2 and the Ho Chi Minh City Gemstone and Jewelry Company.

The five others, including the Financial Leasing Company No. 1, the Ha Noi Gemstone and Jewelry, Printing, Vung Tau Trade and Tourism, and Securities Companies, are expected to go public in the second and third quarters, he added.

Agribank boasts a total capital of over 295 trillion VND (18.4 billion USD), with nearly 282 trillion VND in loans and investment capital.

VNA

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