Asia Commercial Joint Stock Bank (ACB) debuted on the Ho Chi Minh Stock Exchange on December 9 (Photo courtesy of HoSE)Hanoi (VNA) - Shares of Asia Commercial Joint Stock Bank (ACB)soared 8.1 percent on December 9 as the bank officially listed more than 2.16billion shares on the Ho Chi Minh Stock Exchange (HoSE).
The shares debuted at 26,400 VND apiece and could trade on a 20 percent tradingband on either side in the debut day. ACB shares surged to 28,550 VND apiece onDecember 9.
At the opening price of 26,400 VND, ACB’s market value was set initially atmore than 57 trillion VND.
ACB moved its shares to HoSE from the Hanoi Stock Exchange (HNX). The lasttrading on the HNX was December 1.
The bourse-switching decision was made in June after shareholders approved aplan to move the bank’s shares to HoSE to help increase the marketcapitalisation.
ACB was founded in June 1993 with starting charter capital of 20 billion VND.At the moment, charter capital is 21.6 trillion VND.
The bank became the third lender to switch trading bourse afterLienVietPostBank (LPB) and Vietnam International Bank (VIB) and also the 13thlisted bank on the stock market.
In 2018-19, total revenues of the bank were 14 trillion VND and 16.1 trillionVND, respectively, and total post-tax profits were 5.14 trillion VND and 6.1trillion VND, respectively.
In January-September 2020, total revenue was near 13 trillion VND and post-taxprofit was 5.13 trillion VND.
According to HoSE, the listing of ACB shares on the southern bourse will helpthe bank tap the huge resource of capital, improve its brand and prestige tocustomers.
“As the major market regulator, HoSE will also partner with local companies tohelp them execute the tasks, especially in information disclosure, and updatethe policies and regulations, and create training programmes for all marketmembers,” the HoSE said in a statement on December 9./.
VNA
