Vietnam's third-largest bank, the Bank for Investment and Development, is considering delaying an initial public offering from the fourth quarter until next year on concerns about a market slowdown.
The Dow Jones Newswires quoted Do Ngoc Quynh, deputy director of BIDV's treasury department, as saying that officials of the state-run bank were now looking carefully at market conditions.
Following a big run-up, Vietnam's stock market has softened recently.
After the country was admitted to the World Trade Organization earlier this year, many state-run companies have launched IPOs, and many more are waiting in the wings.
In addition to BIDV, the Bank for Foreign Trade of Vietnam, the Industrial and Commercial Bank and the Mekong Delta Housing Development Bank have also been planning IPOs around the fourth quarter.
With so many IPOs coming on at the same time, there is concern about a potential glut pushing down share prices.
Source: Thanh Nien
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