Bank Makes Initial Public Offering

Kien Long Commercial Joint Stock Bank will issue 42 million additional shares following approval by the State Securities Commission.

Transactions conducted at a Kien Long branch (Photo: SGGP)

The bank will sell 39.99 million shares to existing stockholders and offer the remainder to staff for VND10,000 (US$6) per stock.

Kien Long Bank, located in Rach Gia City in Kien Giang Province, has a charter capital of VND580 billion (US$35 million).

The bank has 37 branches and transaction offices nationwide. Five more branches will be opened in provinces of Ben Tre, Tra Vinh, Hau Giang, Dong Thap and Bac Lieu in early September.

By H. Hien – Translated by Hoang Yen

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