Saigon Securities Inc. (SSI) said on Thursday it had sold one million shares to Japan's Daiwa Securities Group Incorporation for about $10.9 million.
The Ho Chi Minh City-based brokerage said in a statement published by the Hanoi Securities Trading Center it sold the shares, which represent a stake of about 1.25 percent, for 175,100 dong ($10.9) each, a 9.4 percent premium.
This week, Australia and New Zealand Bank Group Ltd. bought 8 million shares in SSI for 170,000 dong each, along with 555,600 convertible SSI bonds at 100,000 dong each.
Foreign banks have been moving increasingly into Vietnam as a wave of privatisations and share sales drive market activity.
The Vietnam Index was the top performing stock index in Asia in 2006 and is up almost 40 percent so far this year.
SSI reported in May its first quarter net profit jumped four times from a year earlier to $28.8 million on revenues of $35.5 million as the brokerage and IPO underwriting businesses thrived.
Source: Reuters
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