Illustrative image (Photo: VNA) HCM City (VNS/VNA) - The Ho Chi Minh Stock Exchange (HoSE) is preparing toreceive billions of shares after companies delayed listing plans dueto poor trading conditions.
MaritimeJoint Stock Commercial Bank (MSB) on November 19 filed to list 1.175billion shares on HoSE, equal to charter capital of 11.75 trillion VND (506.63million USD).
Ifapproved, the bank will become the 11th bank listed on HoSE andthe 20th on the Vietnamese stock market.
The planhas been in place since 2016 after MSB acquired Mekong Bank and the VietnamTextile and Garment Finance JSC.
By the endof September, the bank had 148.3 trillion VND worth of total assets, up 8 percentover nine months. Total lending rose 19 percent in the nine-month periodto 57.8 trillion VND, and the NPL ratio fell to 2.87 percent from 3 percent.
From January-September,MSB earned 2 trillion VND in total net revenue and 868 billion VND in post-taxprofit. The figures were up 28 percent and 350 percent from last year.
MSBshares are currently traded on the Over-The-Counter (OTC) market. Its sharestraded at 10,500-10,600 VND (0.45-0.46 USD) on November 26.
Previously,MSB shareholders had failed to offload their stakes. Those included the StateCapital Investment Corporation (SCIC), the Vietnam Post and TelecommunicationsGroup (VNPT) and the Vietnam Debt and Asset Trading Corporation (DATC).
Meanwhile,the Vietnam Rubber Group – JSC (VRG) will become the third State-owned group totrade shares on HoSE after the National Petroleum Group (Petrolimex) andinsurance-finance firm Bao Viet Holdings.
VRG plansto move four billion shares from the Unlisted Public Company Market (UPCoM) toHoSE. The company has filed its listing to the southern bourse regulator forapproval.
VRGshares (UPCoM: GVR) ended November 26 at 13,800 VND per share.
The Statein early 2018 cut its holding to 96.77 percent in the firm’s charter capitalfrom 100 percent.
VRGdebuted on UPCoM in March 2018, becoming the largest firm in terms of chartercapital. It has 76 trillion VND worth of total assets.
Afterthree quarters, the group recorded 12.95 trillion VND worth of total netrevenue and 2.3 trillion VND in post-tax profit.
Othercompanies that are switching to HoSE include Duc Giang Chemicals Group,Investment and Industrial Development Joint Stock Corporation (Becamex IDC),and Military Insurance Corporation.
Marketvolatility
Businesseshave delayed HoSE-listing plans in 2019 because market conditions havebeen quite rough.
Thebenchmark VN-Index on HoSE gained total 11.5 percent to close November 26 at979.03 points year-to-date.
BetweenJanuary 3 and February 25, the VN-Index rose 13.2 percent.
But thebenchmark has moved in a wide range between 943 points and 1,000 points eversince.
Large-capcompanies have been the driving factor for market growth, with thelarge-cap VN30-Index moving in the same direction as the VN-Index.
TheVN30-Index gained 7 percent between January 3 and February 25 and 12 percentyear-to-date.
Meanwhile,the mid-cap VNMID-Index and small-cap VNSML-Index have declined gradually sinceearly March 2019.
TheVietnamese stock market has been pressurised by negative developments ofinternational markets such as the US-China trade war, the protest crisis inHong Kong and concerns about the global economic recession./.
MaritimeJoint Stock Commercial Bank (MSB) on November 19 filed to list 1.175billion shares on HoSE, equal to charter capital of 11.75 trillion VND (506.63million USD).
Ifapproved, the bank will become the 11th bank listed on HoSE andthe 20th on the Vietnamese stock market.
The planhas been in place since 2016 after MSB acquired Mekong Bank and the VietnamTextile and Garment Finance JSC.
By the endof September, the bank had 148.3 trillion VND worth of total assets, up 8 percentover nine months. Total lending rose 19 percent in the nine-month periodto 57.8 trillion VND, and the NPL ratio fell to 2.87 percent from 3 percent.
From January-September,MSB earned 2 trillion VND in total net revenue and 868 billion VND in post-taxprofit. The figures were up 28 percent and 350 percent from last year.
MSBshares are currently traded on the Over-The-Counter (OTC) market. Its sharestraded at 10,500-10,600 VND (0.45-0.46 USD) on November 26.
Previously,MSB shareholders had failed to offload their stakes. Those included the StateCapital Investment Corporation (SCIC), the Vietnam Post and TelecommunicationsGroup (VNPT) and the Vietnam Debt and Asset Trading Corporation (DATC).
Meanwhile,the Vietnam Rubber Group – JSC (VRG) will become the third State-owned group totrade shares on HoSE after the National Petroleum Group (Petrolimex) andinsurance-finance firm Bao Viet Holdings.
VRG plansto move four billion shares from the Unlisted Public Company Market (UPCoM) toHoSE. The company has filed its listing to the southern bourse regulator forapproval.
VRGshares (UPCoM: GVR) ended November 26 at 13,800 VND per share.
The Statein early 2018 cut its holding to 96.77 percent in the firm’s charter capitalfrom 100 percent.
VRGdebuted on UPCoM in March 2018, becoming the largest firm in terms of chartercapital. It has 76 trillion VND worth of total assets.
Afterthree quarters, the group recorded 12.95 trillion VND worth of total netrevenue and 2.3 trillion VND in post-tax profit.
Othercompanies that are switching to HoSE include Duc Giang Chemicals Group,Investment and Industrial Development Joint Stock Corporation (Becamex IDC),and Military Insurance Corporation.
Marketvolatility
Businesseshave delayed HoSE-listing plans in 2019 because market conditions havebeen quite rough.
Thebenchmark VN-Index on HoSE gained total 11.5 percent to close November 26 at979.03 points year-to-date.
BetweenJanuary 3 and February 25, the VN-Index rose 13.2 percent.
But thebenchmark has moved in a wide range between 943 points and 1,000 points eversince.
Large-capcompanies have been the driving factor for market growth, with thelarge-cap VN30-Index moving in the same direction as the VN-Index.
TheVN30-Index gained 7 percent between January 3 and February 25 and 12 percentyear-to-date.
Meanwhile,the mid-cap VNMID-Index and small-cap VNSML-Index have declined gradually sinceearly March 2019.
TheVietnamese stock market has been pressurised by negative developments ofinternational markets such as the US-China trade war, the protest crisis inHong Kong and concerns about the global economic recession./.
VNA
