Sacombank to sell entire stake in Hoang Anh Gia Lai

Sacombank (STB) will sell its entire holdings in furniture maker Hoang Anh Gia Lai (HAG), according to a statement on the bourse’s website Wednesday.

The sale of 1.1 million shares, or 0.61 percent stake, will be carried through both on and off-market transactions. It will begin today and finish at the end of the year.

The HCMC -based lender, officially called Saigon Thuong Tin Commercial Joint Stock Bank, registered with the exchange last month to sell 18.3 million shares it bought back in a bid to boost its share price in 2008, which plummeted more than 71 percent.

ThanhNien

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