ANZ Vietnam investment set to list
(4 July 2006 – Vietnam) Vietnamese bank Sacombank is set to debut on the Ho Chi Minh City Securities Trading Center on July 12.
Sacombank is Vietnam’s first listed bank. Australia’s ANZ has a 10 percent stake in the bank.
Based in Ho Chi Minh City, Sacombank has a market value of around US$970 million. The bank predicted it would begin trading at just over US$5 a share.
Sacombank is looking to grow its branch network to 125 branches nationally by the end of 2006 and up to 145 branches by the end of 2007.
Standard Chartered and HSBC have also invested in Vietnamese banks.
Based in Ho Chi Minh City, Sacombank has a market value of around US$970 million. The bank predicted it would begin trading at just over US$5 a share.
Sacombank is looking to grow its branch network to 125 branches nationally by the end of 2006 and up to 145 branches by the end of 2007.
Standard Chartered and HSBC have also invested in Vietnamese banks.
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