Vietnam Technological and Commercial Joint Stock Bank (Techcombank) launched on Friday the nation’s biggest IPO that aims to raise as much as $922 million and has attracted global funds as cornerstone investors, a term sheet of the deal showed.
Equity issues are booming in the Southeast Asian nation as it speeds up a privatisation drive. Strong interest from foreign investors and local funds has pushed up the benchmark index by 19 percent so far this year, making it one of Asia’s best performers after rising nearly 50 percent last year.
