Chủ nhật 05/07/2020 05:30 24h qua English RSS
Hotline: 094 540 6866

Fewer firms debut on stock exchanges in nine months

22:34 | 21/10/2019

The number of new listing firms on the two local bourses has remained modest in the first nine months of the year.


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./.

VNA

Theo

Cùng chuyên mục
  • ha tinh eyes 43 million resort project

    HÀ NỘI - The Onsen Fuji Services Travel Joint Stock Company has proposed investing in a high-class marine resort project, the Wyndham Costa Hà Tĩnh, in the central province of Hà Tĩnh.

  • quang ninh tien yen expanded to meet class iv urban criteria

    (Construction) - On July 2nd, Deputy Minister of Construction Nguyen Tuong Van chaired the meeting of appraising the Proposal for recognizing the extension of Tien Yen town to meet the criteria of category IV. The appraisal council evaluated the proposal of 88.5 points.

  • quang ninh quang yen to meet class iii urban criteria

    (Construction) - On July 2nd, Deputy Minister of Construction Nguyen Tuong Van chaired the meeting of appraising the proposal to recognize Quang Yen as a class-III city. The appraisal council evaluated the proposal of 88.5 points.

  • hanoi assists construction of cultural house on truong sa

    The Vietnam Fatherland Front (VFF)'s Hanoi chapter on July 2 presented 38 billion VND (1,640 USD) to the Vietnam People’s Navy High Command to help build a multipurpose cultural house in Truong Sa (Spratly) island district, Khanh Hoa province.

  • japans nishimatsu develops airship robot for inspection of water tunnel

    (Construction) - Nishimatsu Construction and Organization for Marine Science and Technology of Nagasaki University have developed an airship-shaped tunnel inspection robot. They tested the robot in the 2.6 km water tunnel at the hydro power plant and confirmed it was capable of flying autonomously while inspecting the wall of the tunnel. The company is considering using it for inspection of deteriorated agricultural waterway tunnels.

  • housing demand remains high in hcm city despite covid 19 jll

    Housing demand remains high in Ho Chi Minh City despite impact of the COVID-19 pandemic, according to US-based real estate and investment management services firm Jones Lang LaSalle (JLL).

Xem thêm
  • awarding 21 construction works and 9 high quality packages

    (Construction) - On July 1st in Hanoi, the Ministry of Construction held a ceremony to announce and award high quality construction works and construction bidding packages to units that have decisions on periods of April 2019 and January 2020.

    21:06 | 01/07/2020
  • disinfectant spraying robot tested at tokyo metro station

    (Construction) - Tokyo Metro conducted an experiment on June 12 of a robot which can disinfect and work as a security guard at Tsukishima station on Yurakucho Line.

    14:41 | 01/07/2020
  • transport ministry to start seven projects in h2

    The Ministry of Transport will start construction work on seven key projects in the second half of this year, heard an online conference on the ministry’s tasks for the six remaining months held in Hanoi on June 30.

    09:48 | 01/07/2020
  • deputy prime minister inspects progress on hcm citys metro line

    HCM CITY - Deputy Prime Minister and Minister of Foreign Affairs Phạm Bình Minh on Monday led a Government working group to inspect components of HCM City’s first metro line Bến Thành-Suối Tiên.

    09:29 | 30/06/2020
  • hud corporation party congress for 2020 2025

    (Construction) - In 2 days (27 and 28 June) in Hanoi, with the spirit "Solidarity - Innovation - Efficiency - Development", Party Committee of Housing and Urban Development Investment Corporation (HUD) successfully organized the 5th National Congress, term 2020 - 2025.

    09:10 | 30/06/2020
...

Tin bài cuối cùng

Không còn dữ liệu để load