Latham & Watkins advised Vietnam Technological and Commercial Joint Stock Bank (Techcombank), one of the largest private joint-stock banks in Vietnam, on their equity raising efforts including a recent investment of more than US$370 million from two entities managed by Warburg Pincus.
Techcombank is one of the most profitable banks in Asia and the investment will provide added growth capital to fund its expansion, while enabling the bank to further solidify its leading position in Vietnam. The transaction represents the largest private equity investment into Vietnam to date.
“We are pleased to be a part of Techcombank’s new partnership with Warburg Pincus, strengthening Techcombank’s standing as one of the leading banks in Vietnam,” said Sharon Lau, managing partner of Latham’s Singapore office.
“Latham played an integral role in Techcombank’s equity raising efforts, and have been a trusted advisor to us throughout the process,” said Nguyen Le Quoc Anh, CEO of Techcombank. “Latham’s ability to seamlessly navigate and bridge local requirements and international standards was a highlight of their outstanding contribution to our new partnership with Warburg Pincus, and we continue to be rewarded by their commitment to Techcombank’s growth.”
The Latham team was led by Singapore partner Lau and supported by Singapore associates Tommy Tan and Alison Joseph, and Hong Kong associate Maurice Conway.