JSC Bank for Foreign Trade of Vietnam, known as Vietcombank, is seeking advisors for a plan to raise about $1 billion to boost its capital, according to people familiar with the matter.
The Hanoi-based lender will sell about 5% stake via a private placement, said the people, who asked not to be identified because the information is private. Reuters reported earlier that Vietcombank plans to raise at least $600 million in fresh capital to compete with its rivals.
Read More : Vietcombank Allegedly Planning to Secure $1 Billion via Stake Sale