[HANOI] VPBank Securities, a stock brokerage firm owned by Vietnam Prosperity Bank, aims to raise 12.7 trillion dong (S$622 million) in an initial public offering (IPO) later this month, the bank said on Wednesday (Oct 1).
VPBank Securities will offer 375 million shares, or a 25 per cent stake, at the IPO, it said. The offer will run from Oct 10 to Oct 31, with shares priced at 33,900 dong each.
The share offer is the latest in a series of IPOs in Vietnam as interest is fuelled by a share rally, regulatory changes and the prospect of an investment status upgrade by a global index provider.
VPS Securities, the country’s largest securities firm by market share, last week said that it planned to offer 202.3 million shares in an IPO, while brokerage Techcom Securities, a week earlier, raised US$410 million in an IPO. REUTERS
