Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) said on 23 January 2026 that it had issued a request for quotations to hire an independent valuation consultant for a planned private placement of new shares, with bids due on 28 January.
The placement, approved by shareholders at the bank's 2025 annual general meeting, covers up to 543.1 million new shares, equivalent to no more than 6.5 per cent of outstanding shares at the time of issuance. The shares will be offered to a maximum of 55 professional institutional investors, which may include existing shareholders.
PRICING FLOOR AND LOCK-UPS
The offer price may not be lower than the bank's book value, the valuation set by the independent appraiser, or the average closing price over the ten trading days before the issue or the most recent closing price. Shares bought by strategic investors will be subject to a three-year transfer restriction, while those bought by professional securities investors will be restricted for one year.
Japan's Mizuho Bank, an existing shareholder, holds 14.96 per cent of the lender. If its stake rises to 20 per cent through the placement, Mizuho would be entitled to nominate one additional board member, for a maximum of two seats. Foreign investors holding at least 5 per cent may nominate one board member, subject to approval by the State Bank of Vietnam.
STATE-BANK CAPITAL DRIVE
The Vietnamese state holds 74.7 per cent of Vietcombank. The capital raise is linked to Politburo Resolution No. 79, which targets placing three state-owned banks among Asia's top 100 by 2030, and the proceeds are intended to strengthen the bank's charter capital.