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Home  >>  Daily News  >>  Malaysia News   >>  Capital Markets  >> Maybank to raise stake in Vietnam bank to 20%
NEWS UPDATES 12 December 2009

Maybank to raise stake in Vietnam bank to 20%

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Vietnam’s An Binh Bank (ABBank), 15 percent owned by Malayan Banking Bhd (Maybank), said it would sell another 5 percent for $19.3 million to the Malaysian bank this month,  reported.

Partly-private ABBank said in a statement the sale, involving the issue of more than 17.8 million new shares, would raise its registered capital by 22 percent to 3.48 trillion dong ($188 million) between Dec 20 and 30.

With a stake of 20 percent, Maybank’s holding in the Vietnamese bank will be the maximum for a foreign partner, and on par with HSBC Holdings Plc’s stake in Hanoi-based Techcombank.


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