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Foreign investors take 20% stake in Vietnam's HDBank

Foreign funds and financial institutions took a cumulative 20% stake in Vietnam-based Ho Chi Minh City Development JSCB, or HDBank, with each foreign investor holding up to a 3% stake in the bank, Viet Nam News reported Dec. 22.

The bank issued 14.26 million shares for more than 6.8 trillion Vietnamese dong to the investors.

Japan-based Credit Saison Co. Ltd. and Aozora Bank Ltd., Australia's Macquarie Group Ltd. and Germany's Deutsche Bank AG count among the foreign shareholders in the Vietnamese lender, according to the report.

The bank plans to list on the Ho Chi Ming bourse in early 2018.

As of Dec. 25, US$1 was equivalent to 22,715 Vietnamese dong.