18 August, 2017
Baker McKenzie has assisted Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) in its initial public offering of shares. VPBank today listed more than 1.3 billion shares at VND 39,000 (approximately USD 1.73) per share on the Ho Chi Minh City Stock Exchange.
The value of VPBank shares after the listing is VND 51,975 billion (approximately USD 2.3 billion), making it the largest private bank market capitalization on the stock exchange in Vietnam.
Lead partner on the transaction, Nguyen HK Oanh stated: “With a high market liquidity, the successful IPO of VPBank is a growth model for other private Vietnamese companies. It was our pleasure to work with the VPBank team on this matter.”
Oanh was assisted by Baker McKenzie special counsel, Dang Linh Chi.
VPBank (formerly known as Vietnam Joint-Stock Commercial Bank for Private Enterprises) was established on 12 August 1993. In 24 years of operation, VPBank has increased its charter capital to VND 10.765 billion, expanded the number of transaction points to more than 215 locations, and grown its workforce to more than 18,000 employees.
