Vietnam bank to sell 30 pct in 2010 IPO

State-run BIDV, Vietnam's second-largest lender, will sell a 30 percent stake to investors in an initial public offering scheduled for the first half of 2010, the government said on Wednesday.

About 20 percent of the bank would be sold to strategic investors and 10 percent to retail investors, the government said in a statement.

It said the bank, which currently has total assets of around 250 trillion dong , would be assessed to determine its value on Dec. 31 this year ahead of the IPO.

BIDV has said it has hired Morgan Stanley to advise on the IPO.

vietnews, Reuters

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