UPDATE 1-Techcombank to price Vietnam's biggest IPO at top end, raise $922 mln -source [Reuters (UK)]
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Source: Reuters
Techcombank to price Vietnam's biggest IPO at top end, raise $922 million: source | Reuters 3 Min Read SINGAPORE (Reuters) - Vietnam Technological and Commercial Joint Stock Bank is set to price its global equity offering at the top end of an indicative range, raising roughly $922 million and marking the country’s biggest-ever IPO, a source familiar with the matter said. The pricing underlines strong demand for equity issues in Vietnam as the government speeds up a privatization drive and the private sector expands furiously. Vietnam’s benchmark index .VNI rose 50 percent last year to rank as Asia’s best performer and is currently just below its record high. The largest private sector lender in Vietnam is expected to price 164 million shares or 14.1 percent of its equity capital at 128,000 dong ($5.62) each, compared with a marketed range of 120,000-128,000 dong each, the source said on Monday on condition of anonymity as pricing terms have not been announced. Techcombank declined com
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