PetroVietnam Finance Corporation (PVFC), the financial arm of petrol giant PetroVietnam, has received the State Bank of Vietnam ’s approval to list shares on the Ho Chi Minh Stock Exchange (HOSE). The decision came on September 10 and noted the corporation must also receive permission from the management board of the HCM Stock Exchange (HOSE) for this listing. PVFC’s spokesman Tran Van Hoa said the corporation was carrying out the final procedures for the listing. ”The listing is expected to be implemented in early October,” said Hoa. However, he did not say how many shares would be listed or their offering price. According to the domestic press, the corporation could list all of its chartered capital of 5 trillion VND (303.03 million USD) after receiving permission from HOSE. PVFC made its initial public offerings (IPO) last September. The average winning price of its share was 70,600 VND a piece. The finance corporation has successfully worked with … [Read more...] about State Bank allows PVFC to list on HOSE
Huu Lien A Chau Joint-Stock Company (HLAC), on Oct 30 th, received a nod from the Ho Chi Minh City Stock Exchange (HOSE) to list 19 million shares on floor. The hares, coded as HLA, are worth up to VND 190 billion. According to Tran Tuan Nghiep, HLAC’s General Director, listing at such a difficult time for the stock market was done to confirm the business achievements of the company for 30 years of operations and to ensure the development plan in progress. Besides a plan of producing 70,000 steel pipes this year, HLAC is also speeding up export activities to big steel importers such as Australia, Northern America and Africa. In 2007, the company earned more than VND 1 trillion and an after-tax profit of VND 34 billion, an increase of four fold compared to that of 2006. It is expected that the company will reach VND 1.4 trillion this year. Source: TBKTSG Translated by Hoang Anh … [Read more...] about HLAC lists 19 mil shares on HOSE
th, 2009. A proposed plan by regulatory bodies to delay re-opening the two floors until after the Lunar New Year's Festival (Tet) on February 2 nd, 2009 has been rejected. The two floors will, however, still remain closed from January 26 th to 29 th, 2009. The Securities Business Association of Vietnam (VASB) had previously proposed a the later re-opening date of February 2 nd, 2009, stating that the stock market will be relatively quiet in the time just after the Tet Holiday, and that re-opening the boards any earlier would cost businesses more money in operational costs than they could make in profits, as securities companies will need to spend several hundreds of million Vietnam dong just for business costs. In previous years, the re-opening dates of the boards for transactions after the Lunar New Year Holiday, if it fell on a Friday, were normally delayed till the following Monday. However, according to the State Securities Committee, given new rules and regulations this might … [Read more...] about HOSE, HASTC closed until Jan 30
As many as 56 million shares of VietinBank are to be listed on the Ho Chi Minh City Stock Exchange (HOSE) on July 16 and expected to be sold at not less than VND 50,000 each. Head of the bank’s Investment Department, Le Duc Tho, said they were speeding up the switch to a joint stock bank while completing paper work for the listing. “We planned the listing during the first half of July and the July 16 deadline will give us enough time to complete the necessary procedures”, said Tho. If things go accordingly, VietinBank will be on the floor 16 days after VietcomBank. Though the number of shares are only half of VietcomBank’s 112.3 million, each share is expected to be initialized at not less than VND50,000. Source: Vnexpress Translated by Hoang Anh … [Read more...] about VietinBank debuts on HOSE on time?
HoSE begins afternoon trading in February By Thao Nguyen - The Saigon Times Daily HCMC – The Hochiminh Stock Exchange (HoSE) will launch afternoon trading and make changes in trading time in February next year to increase turnover, said Nguyen Son, head of the State Securities Commission’s (SSC) Market Development Department. The market will start trading from 9:00 a.m., instead of 8:30 a.m. as now, and will have an afternoon session from 1:00 p.m. to 2:30 p.m. with some changes in trading time. The ATO (automated matching order) phase will take place in 15 minutes from 9:00 a.m. to 9:15 a.m. while 15 minutes of the second ATO phase will be from 2:00 p.m. to 2:15 p.m. The continuous order matching phase will take place from 9:15 a.m. to 11:30 a.m. and then reopen from 1:00 p.m. to 2:00 p.m. Meanwhile, put-through deals are allowed from 9:00 a.m. to 11:30 a.m. and from 1:00 p.m. to 2:30 p.m. Son said the pilot running of the system was smooth but SSC was still waiting for … [Read more...] about HoSE begins afternoon trading in February