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Monday, December 14, 2009
Maybank to up stake in Viet bank
Vietnam's An Binh Bank, 15% owned by Malaysia's top lender Maybank, said it would sell another 5% for USD19.3m to the Malaysian bank this month. Partly private ABBank said in a statement, the sale involving the issue of more than 17.8 million new shares, would raise its registered capital by 22% to 3.48trn dong or (USD88m) between 20 and 30 Dec. With a stake of 20%, Maybank's holding in the Vietnamese bank will be the maximum for a foreign partner, and on par with HSBC Holdings plc's stake in Hanoi-based Techcombank. (BT)