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Vietcombank to list shares on southern bourse
The Joint-Stock Commercial Bank for Foreign Trade of Vietnam, known as Vietcombank, plans to list its shares on the Ho Chi Minh Stock Exchange on June 30, Chairman Nguyen Hoa Binh said.
Vietcombank last week won approval from the exchange to list about 112.3 million shares, or 9 percent of its registered capital. The bank will set a price of VND50,000 (US$2.92) a share, Binh said in a telephone interview Wednesday.
The Hanoi-based lender, the nation’s first state-owned lender to sell shares, traded at VND56,500 in the over-the-counter market Tuesday, according to FPT Securities Inc. The average price per share of winning bids in the December 2007 auction was VND107,860.
The bank had a pretax profit of VND2 trillion ($112 million) for the first five months this year, Lao Dong newspaper reported last week. Vietcombank’s total deposits were VND158.2 trillion and outstanding loans totaled more than VND126.8 trillion as of mid-June, the newspaper said.
thanhnien, bloomberg
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