Bank of Investment and Development of Vietnam Opens Stocks

Bank for Investment and Development of Vietnam announced more than 2.81 billion of the company’s shares will open for trade in Ho Chi Minh City Stock Exchange starting January 24.

The shares, worth more than VND28.11 trillion, can be traded at VND18,700 per share with +/- 20 percent in its first season.

Along with CTG of VietinBank, VCB of Vietcombank, MBB of MBBank, EIB of Eximbank and STB of Sacombank, Bank for Investment and Development of Vietnam will be the sixth banking stock to list on the city bourse.

The bank made an initial public offering on Dec. 28, 2011 then turned into a commercial joint stock bank in early 2012.

The company planned to list its shares on the city bourse in June 2012 but delayed due to an instable financial market and a stock slump although the Stock Exchange allowed the bank to list on Oct. 10, 2012.

By the end of Sept. 30, 2013 the bank’s total assets reached VND535.8 trillion. The State Bank of Vietnam currently holds 95.76 percent stake at Bank for Investment and Development.

By Bao Minh – Translated by Thuy Doan

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