Intellasia.net
 
 
 Services  Tenders BizFind Jobs Archive Search Contact  Tiếng Việt
Updated: 21 Mar, 2011 - 9:33:01 AM (GMT+7:00) RSS feed to Intellasia Vietnam News RSS Feed  Video Feeds
Intellasia News Online « back
Email this article Send to a friend     Printer friendly page Printer friendly   
 
 
 
Foreign funds stake out Vietcombank IPO
25-SEP-2007 Intellasia | 21/Sep/2007 Lao Dong
25 Sep, 2007 - 7:08:00 AM
Free newsletter - click here
The government has approved the equitisation scheme of the Bank for Foreign Trade of Vietnam (Vietcombank). This is perhaps the long-awaited IPOs in 2007 when almost all financial investment funds, particularly foreign funds, plan to inject their money into such leading shares.

Early this October, Vietcombank plans to select strategic partners and identify the timing of issuing IPOs, officially transformed into joint stock commercial banks.

With 44 years of operation, Vietcombank is the first bank in Vietnam conducting centralised capital management, trading foreign currency, issuing and paying international cards such as Visa, American Express, MasterCard, JCB and others.

To date, Vietcombank remains the country's leading bank in trade financing, international payment, forex trading, and advanced technologies.

Vietcombank has witnessed its total assets and profit growing strongly and continuously year after year.

According to the approved equitisation plan, Vietcombank will become a financial group after equitisation. In addition to such major banking activities as credit, particularly export and import credit, payment, Vietcombank will also expand to other financial fields like insurance real estate by contributing capital into joint ventures or clinching strategic partnership deals in some banks, insurance companies, establishing Vietcombank 198 High— rise Building Co., Ltd or Vietcombank-Bonday Joint Venture Co.

The strong financial foundation is Vietcombank's biggest advantage. Thus, Vietcombank is always a big brand domestically and internationally.

Additionally, Vietcombank is applying corporate management standards based on international standards.

Vietcombank and a series of other state run banks will conduct IPO following the new mode, namely, selecting and selling IPOs to strategic partners and then issuing shares to the public.

According to the approved scheme, in October or November, Vietcombank will make IPOs. This move will expectedly stimulate the capital market which is signaling some recovery, paving the ways for big IPOs of other state owned enterprises.

Foreign investors, particularly investment funds are also looking to Vietcombank's IPOs.






    © Copyright 2009 by Intellasia.net

    Top of Page


 
Singapore says casino-related crime well under control
Commercial lending set to lead the way for local banks
Burma must deliver on reforms: Indonesia
Asian retail property expected to remain bullish
Bloomberg Brief Launches Daily Asia Economics Newsletter
Indonesian president's approval ratings drop
Consumer confidence index rises in Jan
Indonesia debt sees more strong demand on GDP data, yield down
Exclusive - Indonesia investors confident on Bumi board shake-up
Finance Ministry to ease private investment in infrastructure
Philippines inflation slows
AirAsia Philippines to use Clark as hub for regional flights
Singapore tourism visitors jump to record 13m in 2011
Singapore retail investors more pessimistic in investment outlook
Singapore commercial crimes rise as scams gain
Gold Coast second route for Singapore budget carrier
Vietnam Banking and Finance
Advertising
 
 
Intellasia News Services
© 2009 All Rights Reserved
privacy policy : terms of use : contact