Vietnam’s HDBank Is Said to Consider $500 Million Share Sale

Ho Chi Minh City Development JSC Bank is exploring raising $500 million through selling new shares, according to people familiar with the matter.

The Vietnamese lender has asked financial advisers to submit proposals to help with the potential fundraising, said the people, asking not to be identified as the process is private. Deliberations are ongoing and there is no guarantee that HDbank will proceed with the offering, the people said.

Representatives for HDBank didn’t provide any immediate comment.

A potential offering would come as Vietnam looks to resolve a legacy issue in its stock market that’s stopping international rating organizations ...