Sacombank calls off share issue

Saigon Thuong Tin Commercial Joint-Stock Bank, the third-largest company on the Ho Chi Minh Stock Exchange, said it has scrapped a plan to issue more shares this year to raise capital. 

The bank, known as Sacombank, decided to hold back the share sale after getting feedback from investors, it said in a statement issued late August 29.

The VN-Index has fallen 44 percent, the sixth-worst performer of 89 benchmark indexes tracked by Bloomberg.

The bank had earlier planned to issue three million shares to its key managers and 1.3 million shares to foreign investors, it said.

Thanhnien

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