GIC, SoftBank Are Said to Weigh Selling Stake in Fintech VNLife

GIC Pte. and SoftBank Vision Fund are considering selling their stakes in Vietnamese fintech firm VNLife, according to people with knowledge of the matter.

The Singaporean sovereign wealth fund and SoftBank Vision Fund 1 are working with a financial adviser and have reached out to potential investors to gauge interest, the people said, asking not to be identified because the process is private. A transaction could value VNLife at $1 billion or more, the people said.