A Maritime Bank transaction office. SCIC will unload its entire stake in this bank next month. — Photo ndh.vn

HA NOI (Biz Hub) — The State Capital Investment Corporation (SCIC) will auction more than 2.4 million shares of Maritime Bank on the Ha Noi Stock Exchange on October 26, unloading its entire stake in the bank.

News website enternews.vn reported that the shares as of press time have a face value of VND10,000 (US$0.4) each, and they start bidding at the initial price of VND11,700 per share.

Maritime Bank reportedly plans to reach a pre-tax profit of VND190 billion this year, up 20.2 per cent over last year.

SCIC is the strategic investment arm of the Vietnamese Government, managing State interests in companies and projects.

It manages investment portfolios across different sectors of the economy, such as financial services, energy, telecommunications, construction and transportation. — VNS