Foreign funds eye 49% in Vietnam’s DongA Bank, after lender’s failed deal with Kinh Do


Several foreign funds are eyeing a 49 per cent stake in the Ho Chi Minh City-based DongA Bank, after the lender failed to seal a 17 per cent deal with Vietnam’s leading confectionery and food firm Kinh Do Corporation, DEALSTREETASIA has learnt. Sources familiar with the matter said that foreign… Read more »

Vietnam-based hospitality firm Thang Long GTC launches IPO, collects $16.7m

State-run company Thang Long GTC, a unit of hospitality firm Hanoi Tourist, sold its entire 33.9 million shares during its initial public offer (IPO) auction on Thursday, to earn proceeds of VND363 billion ($16.7 million). The shares were oversubscribed by three times, as 18 investors had earlier submitted to purchase more… Read more »

Vietnam set to finalise policy on scrapping foreign ownership limits

Vietnam has decided to scrap the cap imposed on foreign holding in local firms across various sectors. A detailed drafted circular, for implementing the removal of foreign ownership limit in Vietnamese companies, is likely to be passed sometime this week, the State Securities Commission (SSC) said on Thursday. The regulation, which is part… Read more »

Hanoi to bankroll ‘incorporated-in-Vietnam’ startups to kickstart tech ecosystem

The Vietnamese startup community, already evolving into an ecosystem, is set to get a major boost with government pledging to support the “incorporated-in-Vietnam” startups – with favourable policies and finance. The support was assured by the government officials, who interacted with local tech startups for the first time, at a tech startup event, on Wednesday. “Startups are small businesses,… Read more »

Vietnam’s ceramics firm Viglacera to establish real estate subsidiary

Vietnam’s ceramics and building material corporation Viglacera has got nod from the Ministry of Construction to establish a real estate company, named Visaho, with a charter capital of VND35 billion ($1.6 million). The ministry announced that during the first phase of development, Visaho will firstly garner a capital of VND15… Read more »

Government to retain 100% ownership in PetroVietnam, reduce stake in its subsidiaries

Vietnam will retain its 100 per cent state ownership in the oil and gas giant PetroVietnam and a controlling stake in the Vietnam National Petroleum Group (Petrolimex), at least until 2030, under terms of a master plan for the country’s energy sector for the next 15 years. PetroVietnam plays a dominating role… Read more »

Vietnam Dealbook: Businessman Do Quang Hien acquires Vegetexco Vietnam, Saigon Securities looks at 100% foreign ownership

Vietnam-based private companies – T&T Group and Saigon – Hanoi Insurance Company – run by businessman Do Quang Hien. have submitted bids to acquire stakes in the state-owned enterprises;  have registered to be the strategic investors of the agriculture firm Vegetexco. Meanwhile, Saigon Securities Inc, one of the leading securities firm by brokerage market share, aims to let… Read more »

Vietnam’s largest northern port to list on August 12

Hai Phong Port, the largest port operator in northern Vietnam, will list its 326.96 million shares on the Hanoi Stock Exchange from August 12, coded as PHP, the company has announced. This volume of shares is equivalent to the company’s charter capital of almost VND3.27 trillion ($150.7 billion). At the reference price… Read more »

Vietnam to divest state holding in dairy major Vinamilk

The State Capital Investment Corporation (SCIC) is planning to offload its holding in Vietnam’s largest dairy firm Vinamilk, and will release a detailed timeline for the divestment, the country’s deputy minister of planning and investment Dang Huy Dong said. The state still holds over 45 per cent in Vinamilk, which is one of… Read more »

Vietnam Dealbook: Singapore cos to invest across various sectors; Domestic cos invest $155.4m overseas in H1

Vietnam based companies have invested more than $155 million in foreign markets within the first six months of 2015, meanwhile the country’s Prime Minister has encouraged Singaporean firms to foster their investment activities in Vietnam. Singapore keen on various sectors in Vietnam Several Singaporean companies, including energy and marine group… Read more »