Hanoi OTC Market to Debut in Mid-July

Hanoi OTC Market to Debut in Mid-July

The Hanoi Securities Trading Center (HASTC), Vietnam's over-the-counter market, will be put into operation in mid-July, said an official from the center.

HASTC director Tran Van Dzung said the center would begin the OTC trading operations for unlisted stocks from July 14, after it was launched in March.

HASTC plans to offer shares of five unlisted firms to investors on its debut, which include Vinh Son-Song Hinh Hydropower Company, Haiphong's Hai Au Paper Company, Haiphong's Infrastructure Construction Company, Hanoi's Thang Long Wine Company and Hanoi's Hacinco Hotel Company.

Dzung said his center would sign up more firms in the coming months.

The center, which is scheduled to carry out the OTC trading operations on Monday, Wednesday and Friday this week, will focus on auctioning government bonds and shares from State-owned enterprises (SOEs) that are selected for equitization.

At present, Vietnam has equitized around 2,400 SOEs since it started its privatization program in 1992. It plans to sell shares in more than 1,000 SOEs between 2005 and 2006.

The country’s first stock market, Ho Chi Minh City Securities Trading Center (HSTC), which opened in July 2000, now trades in stocks of 28 listed companies with a combined market capitalization of  US$268 million, and 244 government bonds with a total market value of VND29.57 trillion.

• Vietnam Economic Times