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PetroVietnam gets help to list overseas
Daiwa Securities Capital Markets Company will act as a manager for the overseas listings of PetroVietnam's subsidiaries and affiliates.
This is part of the Memorandum of Understanding (MoU) inked between Daiwa and PetroVietnam on Monday, which made Daiwa the first Japanese securities firm to conclude such a deal with a Vietnamese company.
Daiwa will help the group's subsidiaries improve their corporate governance and disclosure processes when they list shares in foreign markets.
The overseas listings will also be part of PetroVietnam's efforts to raise 2.5 trillion yen (US$27.5 billion) for future projects through capital markets.
Daiwa Securities Capital Markets' President Shin Yoshidome said the support to PetroVietnam with its business expansion would help reflect Daiwa's commitment to the Viet Nam economic development.
The firm, a unit of Japan's second largest brokerage, Daiwa Securities Group, opened a representative office in Ha Noi in 2007.
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