08.08.2016 - Vietcombank to sell shares to Singaporean investment fund
Singapore government’s investment fund GIC Private Limited (GIC) is negotiating to buy at least 7 percent of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank). That would be the second largest investment that the Singaporean sovereign fund has made this year in Vietnam. A successful deal would show investors’ high confidence in Vietnam’s banking sector, which has been badly affected by bad debts. Vietcombank has been planning to issue 360 million new shares, equivalent to 10 percent of the bank’s existing stocks to foreign investors in a private placement...............................................Full Article: Source
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