Vietnam International Bank (VIB) will make its debut on the market for unlisted public companies (UPCoM) on January 9, offering around 564.4 million shares at the starting price of VND17,000 each.

With the reference price, the bank’s market cap stands at VND9.59 trillion.

VIB has drawn the attention of shareholders and investors thanks to its high dividend payments in recent years. It paid the 2014 dividend of 23.5% and the 2015 dividend of 25% in both cash and shares. 

By end-November last year, its accumulated profit before provision had soared 32.6% from a year earlier to VND1.15 trillion while its total earnings had leapt 23.5% year-on-year.

Its capital adequacy ratio (CAR) had reached 15.6% by end-September last year. VIB’s total assets were estimated at over VND100 trillion with its loans for clients at roughly VND70 trillion by the end of 2016, a 25% pickup from the beginning of the year.

“Given Vietnam’s strong economic growth, low interest rates and inflation, and the stability of the exchange rate between the Vietnamese dong and the U.S. dollar, investors are optimistic about the local equity market’s prospects,” Han Ngoc Vu, CEO of VIB, said in a statement.

He added VIB has been honored by international organizations for its operation and prestige, which may prompt foreign investors to acquire VIB shares. “Now is the right time to list VIB shares on the stock market.”

Commonwealth Bank of Australia had been the biggest shareholder of VIB by end-November 2016 with a 20% stake.

This year, VIB looks to increase its profit by 10% over 2016 by stepping up lending to individual Vietnamese and foreign customers and small and medium enterprises. The lender will foster innovation and apply advanced technology to raise labor productivity and revenue, and cut operating costs.

SGT