Next week, the Vietnam Industrial and Commercial Bank (Incombank) will give bidding documents to a restricted number of bidders under the agreement of the Prime Minister, said the bank’s General Director Pham Huy Hung.
According to Mr Hung, Incombank plans to conduct initial public offering (IPO) in the fourth quarter of 2007 and list its shares on the stock market.
Seven of ten international bidders have been selected for the limited tender, which is scheduled to last till May 2007.
Incombank is speeding up its preparations for equitisation to become one of the first state-owned commercial banks to perform IPO and list shares on the stock market.
Incombank and Australia’s onQ on March 21 signed an agreement to issue the first pre-paid Visa cards in Vietnam, called Bopo. This kind of card works like a Visa credit card, allowing card owners to purchase goods, withdraw money from ATMs, and pay online.
Incombank plans to issue this kind of card in the third quarter of 2007; firstly, the pre-paid tourist Bopo to serve tourists.
Source: VNE
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