Fewer firms debut on stock exchanges in nine months

The number of new listing firms on the two local bourses has remained modest in the first nine months of the year
fewer firms debut on stock exchanges in nine months

The Ham Phu 2 Solar Power project in Binh Thuan province's Ham Thuan Bac district, is built by Gia Lai Electricity JSC (HoSE: GEG). (Photo: geccom.vn)

As of the end of September, 10 companies debuted on the Ho Chi Minh Stock Exchange (HoSE). Most of them moved from the Unlisted Public Company Market (UPCoM).

Nine companies debuted on the Hanoi Stock Exchange (HNX) in the January-September period.

Some of the companies making their debuts in the first three quarter included Gia Lai Electricity JSC (HoSE: GEG), Dabaco Group (HoSE: DBC) and Kosy JSC (HoSE: KOS).

The number of companies having new to the two local exchanges in the past nine-months was quite futile compared to the previous two years.

In 2018, total 33 companies started listing shares on HoSE and 22 firms came on the HNX.

Other companies are also planning to move their shares to the two local exchanges.

Those companies include Investment and Industrial Development JSC (UPCoM: BCM), Hanoi Plastics JSC (UPCoM: NHH) and Kien Giang Construction Investment Consulting Group (OTC: CKG).

Listing on the two exchanges is among the best ways for companies to raise capital, serving their business activities, and help increase the firm’s creditability to investors.

According to Nguyen Nhu So, Chairman of Dabaco JSC, moving the company from UPCoM to HoSE helps strengthen its status in comparison with other businesses in the consumer staples sector.

The company plans to increase its charter capital by selling private shares and issuing private convertible bond notes.

Some businesses are likely to break the promise of bringing their businesses onto the stock exchanges made in this year’s annual shareholder meetings.

Le Mien Thuy, General Director of Ricons Construction JSC, said the company plans to list shares on the stock exchanges in the last quarter of the year.

The underwriting firm expects construction companies will produce high profit reports in the October-December period and that would draw interest from investors, he said.

However, the listing will very much depend on the market trading conditions, which have been unfavourable for shareholders, the general director said.

The market trading conditions have remained difficult for any firms to thinking about listing shares on the HoSE and HNX, business executives said.

As of September 30, the benchmark VN-Index on HoSE struggled to gain a total of 12.6 percent.

Meanwhile, the HNX-Index on HNX increased by only 1.2 percent in the same period.

Market trading liquidity remained modest on the two exchanges as investors have been worried about key international events such as the US-China trade war and about the global economic recession.

They have been seeking alternative investments, which are safer and less risky than local stocks, such as gold and government bonds.

Source: VNA

Related News

Foreign institutional investors allowed to buy stocks without 100 percent pre-funding -trading

Foreign institutional investors allowed to buy stocks without 100 percent pre-funding -trading

VCN - The issuance of Circular 68/2024/TT-BTC by the Ministry of Finance is considered a solution to remove a major bottleneck in upgrading the stock market related to the abolition of the regulation on pre-trading margin requirement for foreign institutional investors.
Warn about the fraudulent tricks of stock investment

Warn about the fraudulent tricks of stock investment

VCN - The police discovered a situation where some scammers set up chat groups, impersonating "experts" to lure investors to join closed groups on social networks, install websites, apps and send money here to invest in securities to appropriate the victim's money.
Numerous growth drivers, opening opportunities for enterprises

Numerous growth drivers, opening opportunities for enterprises

VCN - That is the appraisal given by experts at the seminar "HUBA Entrepreneurs' Coffee" under the theme: "Vietnam and HCMC's Economy in 2024 - Issues of interest to entrepreneurs," which took place on March 9, organized by the Ho Chi Minh City Business Association (HUBA).
EU firms’ confidence in Vietnam increases again: EuroCham

EU firms’ confidence in Vietnam increases again: EuroCham

The European Chamber of Commerce Vietnam (EuroCham) announced on October 9 its Business Confidence Index (BCI) for the third quarter of 2023, showing that the BCI has regained its upward trajectory in the period, which offers a glimmer of hope for the Vietnamese business environment after a turbulent year.

Latest News

Fifteen Vietnamese banks named in the global top 500 banking brands

Fifteen Vietnamese banks named in the global top 500 banking brands

Fifteen Vietnamese banks are named on the world’s top 500 banking brands, announced by the world’s leading brand valuation consultancy Brand Finance.
Digital infrastructure strategy approved

Digital infrastructure strategy approved

Permanent Deputy Prime Minister Nguyen Hoa Binh recently signed a decision approving the digital infrastructure by 2025 with a vision to 2030.
Drastically handle tax debts in the last months of the year

Drastically handle tax debts in the last months of the year

VCN – The General Department of Taxation has directed tax branches to closely supervise and control the implementation of enforcement measures to ensure the debt collection targets and limit new debts.
Realized social investment capital is estimated at VND2,417.2 trillion

Realized social investment capital is estimated at VND2,417.2 trillion

VCN - Lending interest rates tend to decrease, production for export has grown well; policies on tax exemption, reduction, extension and deferral continue to be implemented to support businesses and production establishments, promoting new investment and production expansion, increasing the attraction and implementation of total social investment capital.

More News

State-owned banks struggle to increase capital

State-owned banks struggle to increase capital

While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.
State budget revenue reached 85.1% of estimate

State budget revenue reached 85.1% of estimate

VCN - The Ministry of Finance said that in the first 9 months of 2024, the total state budget revenue is estimated at 1,448.2 trillion VND, equal to 85.1% of the estimate, of which many revenue items have achieved good collection progress and growth compared to the same period in 2023. However, in recent months, budget revenue has begun to face difficulties, etc.
Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

Budget expenditure in the first three quarters of 2024 reached about VND 1,256.3 trillion

VCN - The Ministry of Finance said that in the first 9 months of 2024, the state budget spent about VND 1,256.3 trillion, equal to 59.3% of current apropriation, an increase of 1.4% over the same period in 2023.
Increasing institutional investors – improving quality of corporate bond market

Increasing institutional investors – improving quality of corporate bond market

VCN - The structure and quality of investors have been one of the limitations of the corporate bond market in recent times. To improve the quality of the market, increasing institutional investors and improving the quality of investors, including individual investors, is one of the solutions that have been implemented by management agencies, thereby building a sustainable corporate bond market.
Urgent measures to restore production post-disaster

Urgent measures to restore production post-disaster

VCN - To quickly restore agricultural production after storm No. 3 and floods, the Prime Minister assigned the Ministry of Finance to guide the immediate implementation of financial support policies, tax exemptions, reductions, and extensions, land rents, water surface rents, etc. for those affected by storms and floods; continue to research to have policies to exempt and reduce fees and charges for those affected.
Risks for the economy when cash flow has not yet been put in to production and business

Risks for the economy when cash flow has not yet been put in to production and business

VCN - Investment channels in Vietnam have a lot of potential, but financial and banking expert Dr. Nguyen Tri Hieu, Director of the Institute for Research and Development of Global Financial and Real Estate Markets, said that cash flow into production and business is still modest, leading to risks for the economy.
An open banking system is essential for a smart city

An open banking system is essential for a smart city

Building a smart city with a smart payment system playing a key role has helped Hanoi gradually transform and make breakthroughs in the process of development, said Ha Minh Hai, Vice Chairman of the municipal People's Committee.
Tax sector focuses on simplifying tax administrative procedures

Tax sector focuses on simplifying tax administrative procedures

VCN - The tax sector is focusing on researching and proposing amendments to legal documents to simplify processes and procedures; promoting the modernization of information technology applications to support the settlement of tax refund dossiers more conveniently and quickly.
Individual customers' deposits in Jan-Jul see record high

Individual customers' deposits in Jan-Jul see record high

Total deposits from individual customers at banks had reached 6.8 quadrillion VND (276.3 billion USD) in the first seven months of this year, marking the highest level ever, according to the latest data released by the State Bank.
Read More

Your care

Latest Most read
Fifteen Vietnamese banks named in the global top 500 banking brands

Fifteen Vietnamese banks named in the global top 500 banking brands

Fifteen Vietnamese banks are named on the world’s top 500 banking brands, announced by the world’s leading brand valuation consultancy Brand Finance.
Digital infrastructure strategy approved

Digital infrastructure strategy approved

Permanent Deputy Prime Minister Nguyen Hoa Binh recently signed a decision approving the digital infrastructure by 2025 with a vision to 2030.
Drastically handle tax debts in the last months of the year

Drastically handle tax debts in the last months of the year

VCN - From the beginning of 2024, the General Department of Taxation requested and assigned tax departments to ensure the completion of tax debt collection targets in 2024, and enhance responsibility in tax debt management and collection, contributing to
Realized social investment capital is estimated at VND2,417.2 trillion

Realized social investment capital is estimated at VND2,417.2 trillion

Lending interest rates tend to decrease, production for export has grown well; policies on tax exemption, reduction, extension and deferral continue to be implemented to support businesses
State-owned banks struggle to increase capital

State-owned banks struggle to increase capital

While private joint stock commercial banks have increased capital significantly so far this year, the capital for State-owned commercial banks has remained stagnant.
Mobile Version