Vietcombank could be Vietnam's 1st IPO
State-run bank said to mull listing in Hong Kong or Singapore; size of offering unclear.
HONG KONG -(Dow Jones)- Vietnam's state-run Vietcombank plans to list in Hong Kong or Singapore in the country's first overseas listing, people familiar with the situation said Thursday. The listing, set for either this year or next, could be a dual-listing - in either Hong Kong or Singapore, and Vietnam - or just an overseas listing, they said. They said it is too early to put a size on the listing, while analysts said discrepancies in Vietnam financial statements made pinning down a number difficult. The people familiar with the matter said the bank had sent out requests for proposals to several investment banks. An RFP is an invitation by a potential issuer to investment banks to submit proposals on how they would manage the initial public offering. The people said RFPs to pitch for the IPO had been sent to four banks: Citigroup Inc. (C), UBS AG (UBSN.VX), Goldman Sachs Group Inc. (GS) and Credit Suisse Group (CSR). All four banks declined to comment. The people said the banks have until the end of March to make their pitch for a financial advisory role. (MORE TO FOLLOW) Dow Jones Newswires 02-23-06 0512ET Copyright (c) 2006 Dow Jones & Company, Inc. |
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