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BIDV approved to delay IPO
Bank for Investment & Development of Vietnam, the country’s second-largest lender by assets, has been approved to delay its initial public offering, according to a statement on the government’s website Tuesday.
The value of BIDV, as the bank is known, will be assessed on December 21 for the IPO, said the statement. It didn’t specify when the share sale would go ahead.
The Hanoi-based lender plans to postpone the sale until next year, Le Dao Nguyen, deputy chief executive officer, said last week. BIDV, which plans to sell about 30 percent of its registered capital, is also in talks with “some” foreign investors who are interested in buying the shares, Nguyen said.
Vietnam has sold shares in two of its four biggest lenders as part of the nation’s so-called equitization process, which partially privatizes state-firms as the country shifts to a market-based economy.
thanhnien, bloomberg
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