VPBank Securities Plans to Raise at Least $172 Million From IPO

VPBank Securities JSC, a unit of Vietnam Prosperity JSC Bank, plans to raise at least 4.55 trillion dong ($172 million) in an initial share sale that could take place as soon as this quarter.

The Hanoi-based company intends to sell as much as a 25% stake, or 375 million shares, at a minimum price of 12,130 dong per share, it said in an emailed statement. The offering is expected to be conducted no later than the second quarter of next year, confirming details previously reported by Bloomberg News.

The IPO will add to a wave of recent listings on ...