With the initial offer price of VND13,000 (US$0.57) each, Vietcombank may earn VND246 billion (US$10.8 million) from the sale of around 19 million shares of Orient Commercial Joint Stock Bank (OCB).
The auction will be held at 10 a.m. on December 29 on the Hanoi Stock Exchange (HNX).
Local and foreign investors, economic organizations, social organizations and individuals can participate in the auction as regulated.
According to the prospectus just released, as of September 30, 2017, OCB's total assets reached VND70,805 billion (US$3.12 billion) and profit after tax reached over VND633 billion (US$28 million).
On November 20, Vietcombank obtained more than VND342 billion (US$15.08 million) from selling shares of Saigon Bank for Industry and Trade (Saigonbank) and Cement Finance Joint Stock Company (CFC) on the HNX.
According to the latest statistics, Vietcombank holds more than 126 million shares of MB, equivalent to a 7 per cent stake and 101 million shares of Eximbank, equaling an 8 per cent stake.
Vietcombank plans to sell shares of MB and Eximbank in January 2018 with the amount expected at VND1 trillion (US$ 44. million).
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The United Capital Management Joint Stock Company (Unicap) which manages investment funds will provide financial services to FLC and Faros in the near future.
Techcombank has announced that two separate legal entities managed by Warburg Pincus will invest over US$370 million into the Bank, subject to appropriate regulatory approvals.
In only the first two months of this year, the banking, financial services and insurance sector (BFSI) of Vietnam received up to US$1.45 billion worth of investment.
It is feared that the escalating trend of trade protectionism will hinder global growth and make many businesses struggle for survival.
According to the World Bank, remittances to Vietnam in 2017 are estimated at a record high of US$13.81 billion, increasing by US$1.9 billion, equivalent to 16% over 2016.
Within less than five months leading the Southeast Asia Joint Stock Commercial Bank (SeABank), Nguyen Canh Vinh has resigned from this position since February 8, 2018, for personal reason.
