Enterprises rush to list on stock exchanges in early 2022

An investor looking at the stock trading board. VNA/VNS Photo

As the local stock market has attracted a lot of attention and capital flows, many enterprises take it as an opportunity to go public or transfer stock exchanges.

In the last trading days of 2021, the Hồ Chí Minh City Stock Exchange (HoSE) issued listing certificates for a series of businesses and investment funds.

According to the circular guiding the listing of securities on stock exchanges issued by the Minister of Finance, organisations approved for listing must trade their stocks within 90 days after receiving approval from stock exchanges.

If after this time limit, the enterprise approved for listing does not bring its stock into trading, the approval decision of the stock exchange will automatically expire. Therefore, in the first quarter of 2022, there will be additional billions of shares traded on HOSE.

On December 30, 16.5 million GMH shares of Minh Hương Quảng Trị JSC were approved for listing by HOSE. It is expected that January 12 will be the first trading day of the stock on the bourse.

Minh Hương Quảng Trị's main businesses are cement, lime and gypsum.

On December 29, HoSE also approved the listing of more than 1.12 billion PGV shares of EVNGENCO3. This is one of the few businesses with a market capitalisation of a billion dollars on the stock exchange. Earlier last year, the enterprise's capitalisation reached more than VNĐ47 trillion (US$2.1 billion).

Thus, after more than three years of trading on UPCOM, EVNGENCO3 will transfer to list on HOSE.

EVNGENCO3 said that the move to list on HOSE will increase the liquidity of PGV shares, improve the company's position, create prestige and opportunities to attract new investment capital sources, bringing benefits to shareholders and preparing for the pestment programme to reduce the ownership rate of Electricity of Vietnam (EVN) at EVNGENCO3.

Besides enterprises, HoSE also approved the listing of the KIM Growth VN30 ETF since December 21 and the first trading day is expected on January 7 with the ticker symbol FUEKIV30.

On the Hà Nội Stock Exchange (HNX), 10 million ODE shares of ODE Media and Entertainment Group JSC will be officially traded on January 10, with the reference price of VNĐ36,000 per share on the first trading day.

Meanwhile, investors' attention is turning to the listing of Bamboo Airways on UPCOM, with the ticker symbol BAV. Its first trading day is expected in the first quarter of 2022 and the transaction price is not lower than VNĐ60,000 a share.

Nguyễn Khắc Hải, Deputy General Director of Bamboo Airways, said that the airline is also rushing to prepare and complete filing for offering on the US stock market in 2022.

Previously, Bamboo Airways set a target of raising $200 million from the issuance of 5-7 per cent shares on the New York Stock Exchange (NYSE), increasing its capitalisation to $4 billion.

Boosting government pestment

In 2022, State pestment activities are also expected to boost the development of the stock market.

The Corporate Finance Department, under the Ministry of Finance, has created a plan to pest capital in 2022 at six enterprises on the list according to the Notice of Office of the Government.

These enterprises include Sabeco, FPT Corporation, Bảo Minh Insurance Corporation, Tiền Phong Plastic JSC, Việt Nam National Reinsurance Corporation and Việt Nam Infrastructure Investment & Development JSC.

The promotion of equitisation and pestment of State-owned enterprises as the stock market witnesses positive developments is to provide more quality supplies in the stock market.

The stock market will be expanded in size as both the number of listed companies and market capitalisation rise. This is one of the standards for upgrading the market, while domestic and foreign investors have more potential new investment opportunities. VNS