News
Vietnamese telco to divest entire SeABank stake, most of TPBank stake on 24 April.
Vietnam’s Mobifone aims to raise 447 billion dong (€17.93 million) by selling stakes in two state-owned banks, it emerged this week.
The move is in line with a government order for state-run companies like Mobifone to divest non-core assets.
According to a Vietnam News report on Wednesday, Mobifone will sell its entire 6.12% stake in Southeast Asia Commercial Joint Stock Bank (SeABank), comprising 33.4 million shares, for VND9,600 (€0.39) per share. It will also sell 14.28 million shares in TienPhong Commercial Joint Stock Bank (TPBank) for VND8,900 each, paring down its stake to 2.19%.
The shares will be sold via auction on 24 April.
The transactions are in line with Mobifone’s plan to get its house in order ahead of an initial public offering that is expected to take place this year.
This plan also saw the operator in January enter the pay TV market with the acquisition of a 95% stake in Audio Visual Global (AVG), the parent company of digital terrestrial TV (DTT) and direct-to-home (DTH) provider An Vien Television.
Mobifone’s stock market debut is expected to raise VND20 trillion (€802.21 million).
