Vietnam Mekong Housing Bank IPO raises $9.57 mln-exchange

Mekong Housing Bank (MHB), one of Vietnam's five remaining wholly state-owned lenders, raised 196.84 billion dong ($9.57 million) in its initial public offering, well below its initial target, the country's main stock exchange said.

Ho Chi Minh City-based MHB sold 17.85 million shares at an average price of 11,025 dong per share, well below the nearly 64.6 million shares on offer, the Ho Chi Minh Stock Exchange said in a statement issued late on Wednesday after the auction. ($1=20,570 dong).

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