Vietnam's VietinBank to auction 4.91 pct stake in lender Saigonbank

Vietnam Joint Stock Commercial Bank for Industry and Trade, known as VietinBank, will offer to sell a 4.91 percent stake in Saigon Bank for Industry and Trade (Saigonbank) next Friday via an auction on the Hanoi Stock Exchange, the exchange said on Wednesday.

VietinBank will offer 15.1 million shares of Saigonbank at a starting price of 20,100 dong apiece, potentially putting the stake’s value at 303.5 billion Vietnam dong ($13.08 million), the exchange said.

VietinBank is 19.73 percent oned by Japan’s Mitsubishi UFJ Financial Group.