HANOI, July 15 (Reuters) - Vietnam’s Military Commercial Joint Stock Bank is seeking to sell a 7.5% stake to one or more foreign investors this year, its chief executive officer said on Monday.
The bank, better known as MBBank, will issue around 123 million new shares and use 38.9 million treasury shares for the stake sale, CEO Luu Trung Thai told Reuters on telephone.
“We will sell the stake to one or more foreign investors, and they will not necessarily be our strategic investors,” Thai said.
The sale is part of the bank’s move to raise its operating capital and expand its operations over the next three years, including investing in digital banking services.
MBBank may organise a roadshow for the stake sale later this year, Thai said.
The bank reported a pretax profit of 4.82 trillion dong ($207.94 million) in the first half of this year, up 26% from a year earlier, Thai said. ($1 = 23,180 dong) (Reporting by Khanh Vu; editing by Gopakumar Warrier
The bank, better known as MBBank, will issue around 123 million new shares and use 38.9 million treasury shares for the stake sale, CEO Luu Trung Thai told Reuters on telephone.
“We will sell the stake to one or more foreign investors, and they will not necessarily be our strategic investors,” Thai said.
The sale is part of the bank’s move to raise its operating capital and expand its operations over the next three years, including investing in digital banking services.
MBBank may organise a roadshow for the stake sale later this year, Thai said.
The bank reported a pretax profit of 4.82 trillion dong ($207.94 million) in the first half of this year, up 26% from a year earlier, Thai said. ($1 = 23,180 dong) (Reporting by Khanh Vu; editing by Gopakumar Warrier
. on the way
với MPT
