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Vietnam’s SeABank Plans Minority Stake Sale to Foreign Investors

  • SeABank working with financial adviser to field buyer interest
  • Private equity firms, other lenders could be buyers for stake

Vietnam’s Southeast Asia Commercial Joint Stock Bank plans to sell a minority stake to overseas investors three years after its French partner sold its shares.

SeABank, as the Hanoi-based bank is known, could offer about 13.78% of its existing registered capital in a sale, Chief Executive Officer Le Thu Thuy said in an emailed response to a query from Bloomberg News. It hasn’t determined a specific timeline for the transaction.