HANOI (Reuters) – Vietnam’s Techcom Securities has raised 10.82 trillion dong ($410 million) in an initial public offering, the firm said on Friday, one of the country’s largest IPOs this year.
The company, a unit of lender Techcombank, sold all of the 231.15 million shares offered, at a price of 46,800 dong apiece, it said in a statement.
The IPO comes as Vietnam is pushing to have its stock market status upgraded to emerging market, with the finance minister on Tuesday expressing confidence that a long-coveted upgrade by global index provider FTSE Russell would be confirmed next month.
Techcom Securities sold 52.44% of the shares to domestic investors and 47.56% to foreign investors and foreign corporate entities largely owned by foreign investors.
It did not say when the shares would be listed on the stock market.
(Reporting by Khanh Vu; Editing by Martin Petty)
