October 4, 2017 / 12:06 PM / a year ago

Vietnam's LienVietPostBank plans selling 25 percent to foreigner investors: media

HANOI (Reuters) - Vietnam’s Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) is in talks to sell a 25 percent stake to foreign investors, local news outlet Vietnamnet said on Wednesday, citing a bank official.

LienVietPostBank will list its shares on Hanoi Stock Exchange’s Unlisted Public Company Market (UPCoM) .HNO on Thursday at 14,800 dong ($0.65) per share, putting the bank’s value at around $421 million, the bank’s filing showed.

Chief Executive Pham Doan Son told investors the bank plans to sell 25 percent of its shares, worth around $105 million at market value, to foreign investors, Vietnamnet reported.

“We are negotiating,” Son told Reuters. He did not clarify.

($1 = 22,728 dong)

Reporting by Mi Nguyen; editing by Jason Neely

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