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Vietinbank Securities to raise $11 mil in share sale
Vietnam Bank for Industry & Trade Securities Co., the brokerage unit of the country’s fourth-biggest bank by assets, plans to raise VND196 billion in an initial share sale on April 22 after a three-week delay.
The Hanoi-based brokerage, known as VietinBank Securities, would sell around 19.2 million shares with a minimum bid of VND10,200, the Hanoi Securities Trading Center said in a statement on its website.
VietinBank Securities canceled a share sale scheduled for March 31 following a plunge in the stock market.
2008’s dividend will be VND2,600 per share.
Owing to difficulties on the manufacturing front, FPT will focus on the service side of its business in 2009, the company said.
The shareholders voted Jonathon Ralph Alexander Waugh onto the board of directors. Waugh, who cofounded PXP VietNam Asset Management in 2004, is the first foreign board member.
The brokerage plans to list on the Ho Chi Minh City bourse in June, director Phan Quoc Huynh said in a telephone interview Tuesday.
Bloomberg, thanhnien
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