Vietnam's central bank has allowed state-run Bank for Foreign Trade (Vietcombank) to raise 7 trillion dong ($435 million) this year, state media reported on Friday.
The unlisted bank, Vietnam's third-largest by assets, would issue long-term debt, the Lao Dong (Labour) newspaper quoted a central bank directive as saying.
Hanoi-based Vietcombank, which had assets of $10.7 billion at the end of March, is expected to offer shares to the public for the first time in July or August and list six to eight weeks later.
Source: Reuters
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