|
|
Vietnam may postpone IPOs of big state firms this year |
 |
+ |
- |
13:32, July 09, 2007 |
The Vietnamese government has asked relevant agencies to reconsider a plan on
equitizing state-owned enterprises (SOEs), paving the way for the postponement of some large initial public offerings (IPOs) scheduled for late this year, local newspaper Vietnam News reported Monday.
The government has required the Ministry of Finance, the State Bank of Vietnam and relevant agencies to re-examine the equitization plan which includes IPOs by three of Vietnam's largest banks, namely the Bank for Foreign Trade of Vietnam (Vietcombank), the Industrial and Commercial Bank of Vietnam (Incombank), and the Bank of Investment and Development of Vietnam (BIDV).
Local analysts have voiced concern that having so many large IPOs all at once could hurt the SOEs' ability of raising money during their share issuance.
Morgan Stanley Dean Witter Asia Pte and JP Morgan Securities Asia Pacific Ltd. have been chosen, respectively, to act as consultants for the equitization of the BIDV and the Incombank, which are expected to make IPOs in the fourth quarter of this year.
In February, Credit Suisse was chosen as consultant for the Vietcombank, which may make its IPOs in August.
Source: Xinhua
|
|
|
Comment
Tell A Friend
Print Format
Save Article