The Unlisted Public Company Market (UPCoM) has gained less attention compared to the Ho Chi Minh City and Hanoi stock exchanges in the past few months, but there are some names expected to boost investor confidence. (Photo baodautu.vn) Hanoi (VNS/VNA) - The Unlisted Public Company Market (UPCoM) has gained less attention compared to the Ho Chi Minh and Hanoi stock exchanges in the past few months, but there are some names expected to boost investor confidence. There are now 803 companies trading their shares on UPCoM, which is monitored by the Hanoi Stock Exchange. Eighteen of the total UPCoM companies are valued at more than 10 trillion VND (439 million USD), accounting for 78 percent of the market’s total. But trading liquidity on UPCoM in the past two and a half months has remained modest compared to the two other exchanges. Trading volume on UPCoM has not exceeded 25 million shares each day since October 11. In the same period, trading value topped 676.7 billion VND on … [Read more...] about UPCoM looks to boost investor confidence
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UPCoM wants more confidence
The Unlisted Public Company Market (UPCoM) has gained less attention compared to the Ho Chi Minh and Ha Noi stock exchanges in the past few months, but there are some names expected to boost investor confidence.— Photo baodautu.vn The Unlisted Public Company Market (UPCoM) has gained less attention compared to the Ho Chi Minh and Ha Noi stock exchanges in the past few months, but there are some names expected to boost investor confidence. There are now 803 companies trading their shares on UPCoM, which is monitored by the Ha Noi Stock Exchange. Eighteen of the total UPCoM companies are valued at more than VND10 trillion (US$439 million), accounting for 78 per cent of the market’s total. But trading liquidity on UPCoM in the past two and a half months has remained modest compared to the two other exchanges. Trading volume on UPCoM has not exceeded 25 million shares each day since October 11. In the same period, trading value topped VND676.7 billion on November 27 and the … [Read more...] about UPCoM wants more confidence
Vietnam leapfrogs Singapore in raising capital from IPOs
The Hanoitimes - The rise of Vietnam’s capital market was largely attributed to the Vietnamese government’s privatization drive and market reforms, strong interest from foreign investors and local funds, as well as a high GDP growth rate of 6.8% in 2018, reported the Singapore Business Review (SBR). Singapore's initial public offering (IPO) market only raised US$715 million against Vietnam’s US$6.2 billion, which made up more than half of the total of US$12 billion across Southeast Asia, according to professional services firm Deloitte. Illustrative photo. Across the Southeast Asian region, Vietnam and Thailand dominated with three blockbuster listings seen in 2018. Vietnamese real estate developer Vinhomes Joint Stock Company (Vinhomes JSC) took the top spot with US$3.6 billion raised. It was followed by Thailand Future Fund, which raised US$1.8 billion, and Vietnam Technological and Commercial Joint Stock Bank (Techcombank), which raised … [Read more...] about Vietnam leapfrogs Singapore in raising capital from IPOs
Make or break for SOE equitization
The SOE equitization process has yielded mixed results over recent months. Vietnam has come a long way since 1986, when it first launched the reform process that gradually and successfully shifted the country to a market-oriented economy. But loosening government control over some 4,500 State owned enterprises (SOEs), many of which dominate key economic sectors such as energy and petroleum, is still unfinished business. Embarking on a staggered equitization drive over the last decade which has, thus far, failed to raise Vietnam the funds it has been looking for to reduce its debt burden, the government now finds itself up against a wall, leaving only a quick sell-off of State assets as the easiest way to bring in capital. Foreign investors and bankers, who flocked to Vietnam over recent decades seeking to cash in on government plans to sell State assets but have been left frustrated by reality falling short of promises, are finally seeing grounds for optimism. The good In a … [Read more...] about Make or break for SOE equitization
Vietnam stock market set to be world’s worst in April
Vietnam, Asia’s top stock market so far this year, is set to become the world’s worst performer this month, according to Bloomberg. The benchmark VN-Index slid 3.2 percent at the close on Thursday as trading resumed after a holiday on Wednesday, with foreign investors unwinding their positions in emerging markets aand rushing to exit a market that reached a record about two weeks ago. “There is a lot of foreign selling today and clearly the market is on a down trend and it is really pushing some margin calls,” Michel Tosto, the Ho Chi Minh City-based head of institutional sales and brokerage at Viet Capital Securities, said by phone. Thursday’s fall brought the drop so far in April to 11 percent, on course for its worst monthly performance in seven years. The decline wiped off more than $15 billion from the nation’s market capitalization. The plunge in the stock market is attributed to rising U.S. treasury yields and a stronger dollar that have … [Read more...] about Vietnam stock market set to be world’s worst in April