BIDV shares to be listed on HOSE

Friday, Jan 17, 2014 18:17


Investors have waited for the bank to list its shares in the local stock market.— Photo

HA NOI (Biz Hub) — The shares of the Bank for Investment and Development of Vietnam (BIDV), under the code BID, are expected to be listed on the HCM City Stock Exchange (HOSE) on January 24.

After HOSE's approval on January 16 of the bank's registration for listing, there will be 2.8 billion shares on offer for VND18,700(US$0.89) each.

The shares account for 5 per cent of the total capital in the stock market, making the shares of the banking industry total 27 per cent, leading the stock market in term of capital.

BIDV is the country's second largest bank in terms of assets and network, after Agribank. As of September 30, 2013, the bank's total assets were worth VND535.8 trillion ($25.5 billion) with 127 branches and nearly 700 outlets in 63 provinces.

The bank, more than 95 per cent of which is owned by the State, held an IPO in late December 2011 at a price of VND18,600 ($0.88). The planned debut price is to be not less than 1.5 times that of the IPO price of VND27,800 ($1.32).— VNS

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