Vietnam's state-owned energy company Vietnam Petroleum & Gas Group said on Thursday that it plans to reduce its shareholding ratio in local bank PVComBank from 52% to 15%, a move aimed at focusing on its core energy business. The company did not disclose a schedule for reducing its holdings, nor did it state how much capital it expects to raise through this sale. PVComBank's registered capital is 9 trillion VND, and Morgan Stanley holds 6.66% of its shares.

Vietnam's state-owned energy company Vietnam Petroleum & Gas Group said on Thursday that it plans to reduce its shareholding ratio in local bank PVComBank from 52% to 15%, a move aimed at focusing on its core energy business. The company did not disclose a schedule for reducing its holdings, nor did it state how much capital it expects to raise through this sale. PVComBank's registered capital is 9 trillion VND, and Morgan Stanley holds 6.66% of its shares.