PE-backed Vietnamese lender completes $992m IPO
Vietnam Technological & Commercial Joint Stock Bank (Techcombank, TCB), a private-sector lender backed by Warburg Pincus, has raised VND21 trillion ($922 million) in the country’s biggest IPO to date.
The bank sold 164 million shares at VND128,000 per share, the top of the indicative price range, giving a market cap of VND149 trillion. A group of cornerstone investors including Fidelity Investments,...
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