Vietnam: Nearly 50 Firms to Hit Stock Market By Year-end

Nearly 50 enterprises will float their shares on both Hochiminh Stock Exchange (HOSE) and Hanoi Securities Trading Center (HASTC) by the end of this year, the Young People newspaper reported.

 

The listings have stirred up investors’ fear for price dilution which may worsen the current slump of the market.

 

Some companies, however, said they can not delay the listing further although the market conditions are very bad.

 

PetroVietnam Finance Corp. (PVF) is expected to hit the bourse Nov 3, offering the ever largest amount of 500 million shares on the HOSE. Other followers include Hoang Anh Gia Lai Co. (HAGL) with 120 million shares, Hoa Sen Group 57 million shares, Ha Tien Cement No.2 88 million shares, PNJ 30 million shares, and Saigon-Hanoi Bank 50 million shares.

 

Truong Duy Khiem, head of Brokerage Department of ACB Securities, said “Vietnam’s stock market is still small in size, compared to other markets in the Asia region. More listings will help widen the market size and improve securities liquidity.”

 

Bao Viet Securities, meanwhile, said authorities should introduce market-supporting policies to accelerate demand and adjust supply in proper manner. (Young People)