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LienVietPostBank caps foreign ownership

LienViet Post Joint Stock Commercial Bank has decided to cap the maximum ownership of foreign investors at 5% of charter capital, Viet Nam News reported Aug. 11.

The move comes after the central bank approved the lender's plan to raise its capital to 7.5 trillion Vietnamese dong via share issuance, as well as its planned listing on Vietnam's Unlisted Public Company Market, the Hanoi Stock Exchange's trading floor for unlisted company stock.

The foreign ownership limit is subject to shareholder approval.

As of Aug. 11, US$1 was equivalent to 22,727.50 Vietnamese dong.