Vietnam bank BIDV to list on domestic bourse on Jan. 24

HANOI Sun Jan 19, 2014 10:14pm EST

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HANOI Jan 20 (Reuters) - BIDV, Vietnam's second largest bank by assets, will debut on the local stock market on Jan. 24, with shares starting at 18,700 dong ($0.9) each, a senior executive in the state-controlled lender said on Monday.

Tran Phuong, a deputy general director of BIDV, told reporters, the bank had also increased gross profits last year by 21 percent year-on-year to 5.23 trillion dong ($248 million).

BIDV, or the Bank for Investment and Development of Vietnam, won approval last week to list on the Ho Chi Minh Stock Exchange . The listing, with an initial market value of $2.5 billion, will be the country's biggest-ever stock debut. ($1=21,070 dong) (Reporting by Ho Binh Minh; Editing by Miral Fahmy)

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