(13 June 2007 – Vietnam) JPMorgan has been chosen by Vietnamese state run bank Industrial and Commercial Bank (Incombank) to evaluate and advise on its partial privatisation and IPO which is set to take place in October.Incombank, which is Vietnam’s fourth largest bank with assets of US$9.2 billion, did not disclose the fee JP Morgan will receive for its advisory services.
JPMorgan will also work with the Vietnamese bank to help it select a strategic partner, which could be a foreign or domestic bank.
JP Morgan beat off the challenge of Daiwa Security SMBC, Lehman Brothers, Macquarie, Merrill Lynch, Morgan Stanley and UBS to secure the advisory role with Incombank.