Banks are pushing up the listing of shares on official markets in the last month of this year to meet the Government's deadline.( Photo tinnhanhchungkhoan.vn) Hanoi (VNS/VNA) - Banks are sprinting to transfer the listing of sharesfrom Unlisted Public Company Market (UpCom) to official bourses before the Lawon Securities takes effect from the beginning of 2021, which would requiretwo-year listing on UpCom before a public company could go to official bourses.
TheHanoi Stock Exchange (HNX) said on December 16 that Bac A Bank (BAB) registeredto list more than 708.5 million shares on HNX. BAB was currently traded onUpCom with an estimated market capitalisation of 12.7 trillion VND.
TheHCM City Stock Exchange (HOSE) recently received an application for listing of456.4 million shares of Nam A Bank (NAB), worth around 4.56 trillion VND.
NABwas listed on UpCom from October 9 at the referece price of 13,500 VND pershare.
Accordingto BIDV Securities Company, transferring the listing of shares from UpCom toofficial bourses, especially HOSE, would help stocks have highervaluations thank to better transparency and liquidity, adding that the sharevaluation of Vietnamese banks was still at a low level compared to the regionand banking stocks were promising to increase next year.
AsiaCommercial Bank (ACB) completed the transfer of share listing from HNX to HOSEearlier this month.
Bankswere also racing to speed up listing on official markets when the deadline wasapproaching. Under the project of restructuring the securities and insurancemarket to 2020 with a vision to 2025 approved in February 2019, all commercialbanks must be listed and registered for trading in official markets.
About1.175 billion shares of Vietnam Maritime Commercial Joint Stock Bank (MSB) wereofficially traded on HOSE from December 23 at the reference price of 15,000 VNDper share, equivalent to a market capitalisation of more than 17.625 trillionVND. MSB was the first bank newly listed on HOSE this year.
Aftermany years of delay, Orient Commercial Joint Stock Bank (OCB) decided to listits shares on HOSE. Trinh Van Tuan, OCB’s chairman, said that the bank wasexpected to be listed on the southern bourse this month after receiving HOSE’sapproval.
TheVietnam Securities Depository (VDS) has announced to grant code ABB for An BinhCommercial Joint Stock Bank. Accordingly, ABB registered to trade morethan 571.3 million shares on UpCom with a total market capitalisation of 5.73trillion VND.
HNXapproved the trading of 300 million shares of PG Bank on UpCom starting fromThursday at the reference price of 15,500 VND per share.
SoutheastAsia Bank (SeABank) also registered for the listing of nearly 1.2 billionshares on HOSE.
InNovember, LienVietPostBank and Vietnam International Bank were officiallylisted on HOSE.
Therewas also a wave of transferring the listing of shares to HOSE recently.
HNXapproved the delisting of 441.7 million shares of Vinaconex (VCG) from December22 and VCG would be transferred to HOSE.
Firstlisted on HNX in mid-2018, Vinaconex’s charter capital increased from 1.5trillion VND to more than 4.4 trillion VND.
InOctober, Ben Tre Pharmaceutical Company (Bepharco) transferred the listing ofshares to HOSE after more than 11 years on HNX.
HOSEalso received the application of Hanoi South Housing and Urban DevelopmentCorporation and Vicostone to transfer their listings from HNX.
HOSEis the largest bourse in Vietnam, accounting for more than 75 percent of themarket capitalisation, equivalent to 63 percent of GDP in 2019, statisticsshowed.
Thesouthern bourse also had higher requirements than HNX, such as minimum chartercapital of 120 billion VND, compared to 30 billion VND on the northernbourse./.
VNA
