January 9, 2019 / 8:22 AM / 5 months ago

Vietcombank raises $265 mln selling shares to GIC Pte, Mizuho Bank

HANOI, Jan 9 (Reuters) - Vietnamese lender Vietcombank said on Wednesday it has raised $265 million selling new shares to Singapore’s state investor GIC Pte Ltd and Japan’s Mizuho Bank Ltd.

The bank, formally known as Joint Stock Commercial Bank For Foreign Trade Of Vietnam, sold 94.44 million new shares, or a 2.55 percent stake, to GIC, it said in a statement on its website.

Vietcombank, Vietnam’s largest listed bank by market capitalisation, also sold 16.67 million new shares to Mizuho to maintain the latter’s stake in the bank at 15 percent, it said.

Vietcombank said Credit Suisse was the leading advisor for the deal. (Reporting by Khanh Vu; Editing by Christian Schmollinger)

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