Wednesday, August 5, 2020 8:36:01 AM - Markets open
VN-INDEX 827.57 +12.92/+1.59%
HNX-INDEX 112.50 +2.08/+1.88%
UPCOM-INDEX 55.89 +0.39/+0.70%
Billions of shares pending for HoSE listing
Vietnam News - 11/27/2019 1:22:28 PM
 (0 ratings. You must sign in to rate.)
The Hồ Chí Minh Stock Exchange (HoSE) is preparing to receive billions of shares after companies delayed listing plans due to poor trading conditions.
Maritime Joint Stock Commercial Bank (MSB) on November 19 filed to list 1.175 billion shares on HoSE, equal to charter capital of VNĐ11.75 trillion (US$506.63 million).
If approved, the bank will become the 11th bank listed on HoSE and the 20th on the Vietnamese stock market.
The plan has been in place since 2016 after MSB acquired Mekong Bank and the Vietnam Textile and Garment Finance JSC.
As of the end of September, the bank had VNĐ148.3 trillion worth of total assets, up 8 per cent over nine months. Total lending rose 19 per cent in the nine-month period to VNĐ57.8 trillion, and the NPL ratio fell to 2.87 per cent from 3.00 per cent.
From January-September, MSB earned VNĐ2 trillion in total net revenue and VNĐ868 billion in post-tax profit. The figures were up 28 per cent and 350 per cent from last year.
MSB shares are currently traded on the Over-The-Counter (OTC) market. Its shares traded at VNĐ10,500-10,600 ($0.45-0.46) on Tuesday.
Previously, MSB shareholders had failed to offload their stakes. Those included the State Capital Investment Corporation (SCIC), the Vietnam Post and Telecommunications Group (VNPT) and the Vietnam Debt and Asset Trading Corporation (DATC).
Meanwhile, the Vietnam Rubber Group – JSC (VRG) will become the third State-owned group to trade shares on HoSE after the National Petroleum Group (Petrolimex) and insurance-finance firm Bảo Việt Holdings.
VRG plans to move four billion shares from the Unlisted Public Company Market (UPCoM) to HoSE. The company has filed its listing to the southern bourse regulator for approval.
VRG shares (UPCoM: GVR) ended Tuesday at VNĐ13,800 per share.
The State in early 2018 cut its holding to 96.77 per cent in the firm’s charter capital from 100 per cent.
VRG debuted on UPCoM in March 2018, becoming the largest firm in terms of charter capital. It has VNĐ76 trillion worth of total assets.
After three quarters, the group recorded VNĐ12.95 trillion worth of total net revenue and VNĐ2.3 trillion in post-tax profit.
Other companies that are switching to HoSE include Đức Giang Chemicals Group, Investment and Industrial Development Joint Stock Corporation (Becamex IDC), and Military Insurance Corporation.
Market volatility
Businesses have delayed HoSE-listing plans in 2019 because market conditions have been quite rough.
The benchmark VN-Index on HoSE gained total 11.5 per cent to close Tuesday at 979.03 points year-to-date.
Between January 3 and February 25, the VN-Index rose 13.2 per cent.
But the benchmark has moved in a wide range between 943 points and 1,000 points ever since.
Large-cap companies have been the driving factor for market growth, with the large-cap VN30-Index moving in the same direction as the VN-Index.
The VN30-Index gained 7 per cent between January 3 and February 25 and 12 per cent year-to-date.
Meanwhile, the mid-cap VNMID-Index and small-cap VNSML-Index have declined gradually since early March 2019.
The Vietnamese stock market has been pressurised by negative developments of international markets such as the US-China trade war, the protest crisis in Hong Kong and concerns about the global economic recession. – VNS
Read original article here
Newer News
04/08 VN shares advance on hopes for virus block
04/08 Maximum 130,700 USD fine for listing violations: Draft decree
21/07 Stock market celebrates 20th birthday
18/07 Shares drop further on low liquidity
15/07 New regulations about corporate bond issuance
13/07 Stocks to struggle on mixed Q2 earnings report releases
12/07 Rallies end as profit-taking weighs on large-caps
07/07 VN stocks advance as securities, banking and aviation industries rise
07/07 Corporate bond market to boom in second half
02/07 VN-Index rebounds, propped up by PMI data and interest cuts
Older News
22/11 VN-Index tumbles in late sell-offs
22/11 UPCoM offers opportunities for market players
18/11 VN30 firms take 92% of all top listed firms’ total Q3 profits
14/11 Blue-chips dip as supply soars
13/11 Markets climb with divergence among large-caps
12/11 Profit-taking sends stocks down
11/11 VN-Index to move flat, large-cap stocks to weaken
10/11 85% of businesses listed on stock market report profit growth in Q3
09/11 VN-Index slides for second day
09/11 85% of businesses listed on stock market report profit growth in Q3
Newsletter Signup
Top Stories
GDP forecast to grow 3.8 percent this year
New regulations about corporate bond issuance
Reference exchange rate remains unchanged
New traders flock to market
Reforms needed to attract foreign portfolio investment: fund manager
Market Update
Last updated at 3:10:02 PM
VN-INDEX 827.57 +12.92/+1.59%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.