<article>Vietnam Technological and Commercial Joint Stock Bank (<a href="https://www.dealstreetasia.com/tag/Techcombank/">Techcombank</a>) is poised to commence trading on the Ho Chi Minh City Stock Exchange (HoSE) on June 4 following its nearly $1-billion IPO, the bank announced on April 27.</article>

Vietnam Technological and Commercial Joint Stock Bank (<a href="https://www.dealstreetasia.com/tag/Techcombank/">Techcombank</a>) is poised to commence trading on the Ho Chi Minh City Stock Exchange (HoSE) on June 4 following its nearly $1-billion IPO, the bank announced on April 27.
The bank said, it successfully sold more than 164 million shares, equivalent to 14 per cent of its charter capital, to institutional investors. At the final price of VND128,000 ($5.62) per share, the bank mopped up VND21 trillion ($922 million) and was valued at $6.5 billion.
At this valuation, Techcombank&#8217;s capitalization is even greater than that of The Bank for Investment and Development of Vietnam (BIDV) and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), whose charter capital is three times higher in comparison.
Techcombank&#8217;s IPO attracted many foreign investors, including Singapore&#8217;s <a href="https://www.dealstreetasia.com/tag/GIC">GIC</a>, Dragon Capital and Fidelity Management, all of whom are keen to become key investors, as they register to buy 76 per cent of the bank’s shares.
Global private equity major <a href="https://www.dealstreetasia.com/tag/Warburg-Pincus/">Warburg Pincus</a> last month agreed to invest over $370 million in Techcombank, marking the largest ever PE investment in Vietnam to date.
“Our decision to allocate a large portion of our offering to the cornerstone investors is a testament to the tremendous demand from a diverse and high-quality set of investors. Just as important is that a number of these funds are investing in Việtnam for the first time,” CEO of Techcombank Nguyen Le Quoc Anh told local media.
The 25-year-old bank provides a broad range of banking products and services to more than 5.4 million customers in Vietnam with an extensive network of 315 branches across the country.
After Techcombank, Vietnam is set to host another billion-dollar IPO this year. Vingroup in February said that it is planning a spinoff of its luxury residential arm Vinhomes that could raise as much as $1 billion, which will mark a strong run of IPOs in the country.
Also Read: 
<a href="https://www.dealstreetasia.com/stories/warburg-techcombank-record-vietnam-ipo-96750/">Warburg-backed Techcombank to price $922m IPO at top end</a>
<a href="https://www.dealstreetasia.com/stories/techcombank-vietnam-biggest-ipo-96125/">Techcombank launches Vietnam’s biggest IPO, targets to raise $922m</a>
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Vietnam Technological and Commercial Joint Stock Bank (Techcombank) sets to trade on Ho Chi Minh City Stock Exchange (HoSE) on June 4 after officially earned nearly $1 billion in the nation’s biggest-ever IPO.

Techcombank to start trading on HoSE from June 4

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Techcombank to start trading on HoSE from June 4

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