Vietnam's stalled privatisation plans are set to restart with the flotation of 20 per cent of shares in Vietinbank, the country's fourth largest lender.

The Vietnamese government said yesterday that half the offering would be available to foreign investors but it has not put a price on the offering or given a date for the IPO. Vietinbank, which until this year was known as the Industrial and Commercial Bank of Vietnam, had assets of 194,000bn dong ($11.7bn) at the end of June.