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VPBank gets approval for IPO

The Ho Chi Minh Stock Exchange approved Vietnam Prosperity JSCB's, or VPBank's, proposed IPO, Viet Nam News reported Aug. 9.

The bank is planning to list 1.33 billion shares, and the shares could be listed for 40,000 dong each, according to Viet Capital Securities Co., the bank's share listing consultant.

Meanwhile, the bank may not sell its consumer finance arm, FE Credit, in the near future, the publication said, citing a report from cafef.vn. The bank had been looking to divest a stake in the unit since 2015 and was reportedly in talks to sell a 49% stake.

As of Aug. 9, US$1 was equivalent to 22,729 Vietnamese dong.