Hanoi secondary securities trading floor was launched on July 14. With the launch of the floor, the Hanoi Securities Trading Centre has become a counterbalance of the Ho Chi Minh City Securities Trading Centre. The floor will be responsible for securities transactions of registered enterprises. It is orientated to develop into a management body of the over-the-counter (OTC) market in Vietnam.
So far, shares of six enterprises with a registered value of VND 1,420 billion, and four types of governmental bonds issued by the Development Assistance Fund, valued at VND 55 billion, have been traded on the floor. Six enterprises, which have joined the secondary trading floor, include the Vinh Son-Song Hinh hydro-electric power joint stock company with a charter capital of VND 1,250 billion, the Hacinco joint stock company with a charter capital of VND 5.8 billion, the Hai Au paper joint stock company with charter capital of VND 12.4 billion, the Thang Long joint stock company with a charter capital of VND 18 billion and the Khanh Hoa electricity joint stock company with a charter capital of VND 163 billion.
Tran Quang Ha, head of the State Securities Commission, said that over 2,400 enterprises had been equitised. However, so far, only 29 companies had listed on the Ho Chi Minh City Securities Trading Centre. Shares of other enterprises are traded on unofficial markets. Investment in shares of such companies is risky as investors do not have enough information. Also, the demand and supply relationship and prices in the markets do not provide enough and exact information. Therefore, the launch of the secondary trading floor of the Hanoi Securities Trading Centre will help expand the organised market, narrowing unofficial markets.
It is reported that after the trading floor starts its operation, the Vietnam Securities Commission will continue to perfect its regulations, taking into account the relationship between the Hanoi and Ho Chi Minh City securities trading centres within the Vietnam stock market. The commission has asked members of the market to be more active in providing listing consultancy services and transaction registration to help the market have more goods. At the same time, members of the market should pay attention to improving material base for their trading floors, so as to provide better services for investors.
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