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VIETINBANK TO SELL 10% OF ITS STOCK TO OVERSEAS PARTNERS.
HANOI, June 8 Asia Pulse - The Vietnam Bank for Industry and Trade (Vietinbank) will sell 10 per cent of its stock to foreign strategic partners, said the Chairman of the banks Board of Directors Pham Huy Hung.
At a meeting of Vietinbank's shareholders in Hanoi on June 4, Hung said that his bank hasn't yet found any strategic investors this year; however, it is searching and negotiating with giant financial institutions and banks around the world.
The bank plans to submit to the government and the State Bank a list of foreign strategic investors, of which US and European investors will be given top priority.
It also plans to list six per cent of it stocks, at an offering price of 50,000 VND (US$2.80) each, on the Ho Chi Minh Stock Exchange in early July this year, Hung said.
Vietinbank has so far sold 10 per cent ...
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