June 4, 2018 / 2:32 AM / 5 months ago

Vietnam's Techcombank slides in trading debut

HANOI, June 4 (Reuters) - Vietnamese lender Techcombank shares traded at 102,400 dong ($4.49) in their debut on Monday, down 20 percent from their reference price and the lowest trading limit for the shares allowed on their maiden day of trade.

Techcombank, formally known as Vietnam Technological and Commercial Joint Stock Bank, raised $922 million in April in one of Vietnam’s biggest offerings.

The shares are allowed to move 20 percent higher or lower than the reference price on the first day of listing, according to exchange trading rules. ($1 = 22,790 dong) (Reporting by Mai Nguyen; Editing by Edwina Gibbs)

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