Vietinbank to sell 10 percent stake to overseas investors

Hanoi (VNA) - The Government has approved an equitisation plan of the
Vietnam Industrial and Commercial Bank (Vietinbank), allowing it to sell 10
percent of its stake to foreign strategic investors in the first phase.

According to a decision signed by the Prime Minister on September 23,
Vietinbank will be permitted to select a maximum of two foreign strategic
investors, with the total stake offered to foreign investors through
different phases not exceeding 20 percent of its total charter capital.

Vietinbank will also be allowed to issue shares to attract more capital on
the principle that the State holds a controlling stake, which must be at
least 51 percent of its charter capital.

The State Capital Investment Corporation acts as the owner of the state
capital in Vietinbank, which has a total charter capital of 13.4 trillion
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