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