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Eximbank wins approval to list on Vietnam’s main bourse
Vietnam Export-Import Commercial Joint-Stock Bank won permission from the State Bank of Vietnam to list its shares on the nation’s main exchange, according to a statement on the central bank’s website.
Eximbank, as the lender is known, still needs approval from the Ho Chi Minh Stock Exchange for the listing. The company, partly owned by Sumitomo Mitsui Financial Group Inc., plans to list about 880 million shares on the exchange, according to an earlier statement on the exchange’s website.
The company canceled plans to list last year because of a slump in the stock market. The benchmark VN-Index of Vietnamese stocks has rallied 76 percent this year after dropping 66 percent in 2008.
By the end of August, pretax profit of Eximbank was more than VND1 trillion (US$56 million), while total assets were VND60 trillion, it said on its website without giving comparable figures. Eximbank aims to increase total assets to VND63.3 trillion and pretax profit to VND1.5 trillion this year, it said in April.
thanhnien, bloomberg
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