Vietnam Airlines, Saigon Beer-Alcohol-Beverage Corporation (Sabeco), Quang Ngai Sugar JSC, Truong Hai Auto Corporation and Vietnam National Petroleum Group (Petrolimex) are all floating on the OTC market and are on investor's radars (Photo baodauthau.vn)The success of State-owned companies such as Hanoi Beer Alcohol and BeverageCorporation (Habeco) and Airports Corporation of Vietnam (ACV) when debuting onthe UPCoM has buoyed trade on the OTC market.
Vietnam Airlines, Saigon Beer-Alcohol-Beverage Corporation (Sabeco), Quang NgaiSugar JSC, Truong Hai Auto Corporation and Vietnam National Petroleum Group(Petrolimex) are all floating on the OTC market and are on investor’s radars.
According to big brokers, the stock prices of these companies have increased inthe past month because of rapidly rising demand.
A share in Vietnam Airlines costs about 40,000 VND (1.78 USD), a rise of 79 percent over its IPO price of 22,300 VND in November 2014.
The national flag carrier has been quiet since its IPO after 99 per cent of its49 million shares for sale were collected by two banks, Vietcombank andTechcombank. Its recent price hike was attributed to the listing success of ACVwhose stock price has shot 64 per cent in the first week of trading, from 25,000VND per share on November 28 to nearly 41,000 VND on November 30.
ACV’s price is also 180 percent higher than its IPO price in December 2015.
Vietnam Airlines early this week asked its shareholders to register theirownership by the end of this month to serve its registration on the UPCoM inDecember.
“This investment wave on the OTC focuses on State-owned enterprises which havemade initial public offerings,” Nguyen Huu Minh, Director of EPS InvestmentConsulting Joint Stock Company was quoted by “Dau thau” (Bidding) newspaper assaying.
Minh said investors were looking to shares of equitised State-owned enterpriseson the OTC and betting on prices rising once they are listed. In addition, thenew regulation which forces equitised companies to trade on the UPCoM after anIPO has eased investors’ concerns over listing delays.
Prices of Habeco have also soared 94.5 per cent since its debut on October 28,shooting from 54,600 VND per share to 106,200 VND on November 25.
Investors expect similar success will be replicated in other shares on the OTC.
Shares of Quang Ngai Sugar, Truong Hai Auto and Petrolimex have also advancedin recent days. Shares of Truong Hai Auto are valued at 90,000 VND a sharewhile that of Quang Ngai Sugar were bought at 82,000 VND and Petrolimex at 30,000VND.
As State-owned enterprise equitisation is speeding up and the Government putsmany market support policies in practice, analysts predict trading on the OTCmarket will continue to be buoyant in the future.-VNA
VNA
