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Eximbank to seek local listing within 2009
Vietnam's Eximbank, 15 percent owned by Japan's Sumitomo Mitsui Financial Group, said it will list its shares on the Ho Chi Minh Stock Exchange between now and the end of this year.
The management board of the Ho Chi Minh City-based lender will decide the exact timing and seek a licence for the listing, the bank said in a statement issued on Wednesday after having secured shareholders' approval.
Eximbank, Vietnam's eighth-largest lender by assets, has raised its registered capital by nearly 22 percent earlier this month to VND8.8 trillion.
It has reported a VND674 billion gross profit for the January-to-May period, 45 percent of its annual target, and said loans reached nearly VND30 trillion by the end of May, up 41 percent from the end of 2008.
Apart from SMFG, British Virgin Islands-registered VOF Investment Ltd owns 5 percent of Eximbank and MAE, part of South Korean fund group Mirae Asset, has 4.5 percent.
vietnews, Reuters
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