Vietnam: LienVietPostBank in talks for 25% strategic sale, JoomlArt acquires Gavick

In a bid to raise more operational capital, Vietnam’s mid-size lender LienVietPostBank is selling a 25 per cent equity interest to a foreign strategic investor. Meanwhile, Joomla template and extension developer JoomlArt has acquired a foreign company in the same vertical.

LienVietPostBank in talks to sell 25% strategic stake

Vietnamese lender LienVietPostBank is in the final stages of selling a 25 per cent stake to an overseas strategic investor, local media said.

However, the name of the investor was not disclosed.

The foreign ownership limit in Vietnamese banks is capped at 30 per cent. An easing of this restriction is not foreseen any time soon, even as some major local lenders like Vietcombank and Vietinbank have asked for an increase in foreign ownership to 35-40 per cent.

“After the involvement of the foreign investor, LienVietPostBank will seek to spur capital, expand network, improve its governance in line with international standards, and then, we will seek to list our shares, either in Ho Chi Minh City or Hanoi,” Nguyen Doan Son, vice chairman and CEO of the bank, was quoted as saying.

LienVietPostBank has become the third private lender to trade its shares on the Unlisted Public Companies Market (UPCoM) since the beginning of this year, floating 646 million shares at the preference price of VND14,800 on October 5.

The bank said it owned a network of 200 branches and offices, and over 10,000 postal outlets. It had total assets worth VND150 trillion and posted a pre-tax profit of VND1.3 trillion at the end of August.

Also read:

LienVietPostBank to invest $22m in property firm Sacomreal

JoomlArt acquires Poland-based web template provider Gavick

Joomla template provider JoomlArt, founded by Vietnamese entrepreneur and angel investor Hung Dinh, has acquired Polish peer Gavick.com for an undisclosed amount.

The deal will be completed by October 19, when pricing updates and integrations will be unveiled.

The GavickPro brand will come under the JoomlArt umbrella, but as a separate entity, said Robert Gavick, CEO of the Joomla and WordPress themes developer.

“In time came new challenges; the Joomla install base that we relied on to maintain our services often fluctuated, severely impacting revenues and taking a heavy toll on our team. Many moved on to other projects to find a more stable environment, which meant that we were unable to maintain the regular content releases that we’d established in the past,” he said.

The acquisition does not include Gavick’s user database. Existing Gavick users are asked to register for JoomlArt platform, said JoomlArt CEO Hung Dinh.

The company has also recently acquired JomSocial and iJoomla, positioning itself as one of the biggest Joomla-based companies.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.