Vietnam's Sacombank board seeks to switch listing to smaller exchange

Board members of Vietnam’s Sacombank STB.HM are seeking shareholder approval to switch the bank’s listing to the Hanoi Stock Exchange .HNXI from the Ho Chi Minh Stock Exchange .VNI, a bank resolution on Tuesday showed.

Sacombank, or Saigon Thuong Tin Commercial Joint Stock Bank, is among Vietnam’s biggest private-listed banks. It would be delisted from the Ho Chi Minh Stock Exchange, the country’s main bourse, if shareholders approve the resolution.

The bank, which has had a new chairman since June, did not give a reason or a time frame for the move.