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Agribank to sell stake in PVcomBank

By Quynh Trang   July 14, 2021 | 08:06 pm PT
Agribank to sell stake in PVcomBank
The Agribank logo is seen on a building in District 1, Ho Chi Minh City. Photo by Shutterstock/StreetVJ.
Agribank, one of the ‘Big 4’ state-owned lenders, is going to make a competitive offering of 247,500 shares of PVcomBank.

The offering will be made on August 2 at Agribank Securities Joint Stock Company, and starting price will be VND11,666 ($0.51).

As of the end of March, PVcomBank had two major shareholders, Vietnam Oil & Gas Group with a 52 percent holding and Morgan Stanley with a 7 percent holding.

PVcomBank has total assets of over VND185 trillion, reported pre-tax profits of over VND10 billion in the first quarter of this year and has a bad debt rate of more than 3 percent.

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