At the starting price of VND 11,900 per share, the total value of the sale is expected at VND851 billion ($38.68 million).
Investors eligible for bidding must satisfy the requirements of having sound financial capacity and making a long-term commitment to provide financial support and retaining the current employees.
Previously, VNPT made two attempts to sell its holdings at the Hanoi-based lender, both times failing to find investors.
Specifically, in November 2015, VNPT auctioned more than 71.5 million Maritime Bank shares at a starting price of 11,700 VND per share. However, only one investor registered, the auction, therefore, was canceled.
On March 10, 2017, VNPT made the second auction but no investor registered. Therefore, HNX did not hold this auction on March 03, 2017.
In addition to VNPT, The State Capital Investment Corporation (SCIC) also auctioned Maritime Bank's shares twice but failed because no investor participated in the auction.
VNPT is currently one of the big shareholders of Maritime Bank with a 6.09 per cent stake. Phuc Tien Co., Ltd. holds a 6.52 per cent in Maritime Bank. The other shareholders holds 87.39 per cent.