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Several Vietnamese banks eye IPOs

Several Vietnamese banks, including Orient Commercial Joint Stock Bank and Vietnam Technological and Commercial Joint Stock Bank, are seeking to list their shares on the local stock exchanges, Vietnamplus reported Dec. 20.

Orient Commercial Joint Stock Bank, or OCB, recently received approval from its shareholders to list its shares on the Ho Chi Minh Stock Exchange. Previously, the bank had planned to list on the unlisted public company market. Meanwhile, Vietnam International Commercial Joint Stock Bank, or VIB, recently registered more than 564 million shares with the Vietnam Securities Depository, the first step for a bank to seek listing.

Vietnam Technological and Commercial Joint Stock Bank, or Techcombank, is also seeking approval from shareholders to list its shares. Vietnam Prosperity Joint-Stock Commercial Bank, or VPBank, and VietA Bank have also expressed interest in listing their shares on the stock exchanges, according to the report.