SHB Bank plans to list on Hanoi bourse
06-SEP-2008 Intellasia | Reuters
Sep 6, 2008 - 7:00:00 AM
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Vietnam's Saigon Hanoi Bank (SHB) said on Thursday it had received regulatory approval to float its shares on the Hanoi stock trading floor (HASTC Index), paving the way for it to become the country's third listed bank.
"The market regulators have approved our application for the share flotation but we have not decided on the date of the listing," a spokesman for the Hanoi-based bank said.
SHB shares were being traded on unofficial markets at about 10,300 dong each, or 3% higher than their face value, valuing the bank at around US$125 million, dealers said.
SHB, which has total assets of around 12 trillion dong, said in March it aimed to earn a pre-tax profit of 750 billion dong (US$45 million) and pay a dividend of 17% this year.
Asia Commercial Bank (ACB.HN) is now the only other bank listed on the Hanoi stock exchange and Sacombank (STB.HM) is the only bank listed on the main board Ho Chi Minh Stock Exchange (VN Index).
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