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Vietnam: Vietcombank to sell shares to Singaporean investment fund
Vietnam: Vietcombank to sell shares to Singaporean investment fund
Friday, 5 August 2016 – Singapore government’s investment fund GIC Private Limited (GIC) is negotiating to buy at least 7 per cent of the Joint Stock Commercial Bank for Foreign Trade of Vi?t Nam (Vietcombank).
That would be the second largest investment that the Singaporean sovereign fund have made this year in Vi?t Nam.
A successful deal would show investors’ high confidence in Vi?t Nam’s banking sector, which has been badly affected by bad debts.
Vietcombank has been planning to issue 360 million new shares, equivalent to 10 per cent of the bank’s existing stocks to foreign investors in a private placement. Read More?