Malaysia's RHB Bank to acquire remaining 51% of Vietnam Securities Corporation

RHB Bank Bhd, Malaysia’s fourth-largest lender by assets, has announced that it plans to acquire the 51 per cent stake in Vietnam Securities Corporation (VNSEC) it does not currently own for VND121.63 million ($5.37 million) in cash.

The bank, through its wholly-owned subsidiary RHB Investment Bank Berhad, has entered into a conditional share purchase agreement with Chu Thi Phuong Dung, Truong Lan Anh and Viet Quoc Insurance Broker Joint Stock Company for the acquisition of the remaining 51 per cent equity interest in VSEC.

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