Vietinbank securities wins approval to list shares on exchange

Vietnam Bank for Industry & Trade Securities Co., the brokerage unit of the nation’s fourth-biggest bank by assets, won approval from the Hanoi Stock Exchange to list shares on the bourse.

The Hanoi-based brokerage will list about 78.99 million shares on the exchange, according to a statement on the exchange’s website Wednesday.

Vietinbank Securities, as the company is known, may list as soon as July 29 or August 5, Director Phan Quoc Huynh said in a telephone interview from Hanoi.

The company raised VND200.6 billion (US$11.2 million) selling about 19.19 million shares in an initial public offering April 22.

Vietnamese companies typically raise money with share sales first, then list the securities on one of the country’s two exchanges several months later.

thanhnien, bloomberg

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