10 firms mull temporary move from overburdened HCM City bourse to Hanoi

The chronic congestion on the Ho Chi Minh Stock Exchange has caused losses for investors. Ten companies are considering temporarily switching their listing to Hanoi.  (Photo: VNA)

HCMCity (VNS/VNA) - Ten companies are sounding out shareholders totemporarily switch their listing from the Ho Chi Minh Stock Exchange to the HanoiStock Exchange since the former’s system is overloaded and smooth trading hasbecome difficult.

Theyinclude VNDirect Securities JSC, Bank for Investment and Development of VietnamSecurities JSC, PAN Group JSC and its seven subsidiaries, Sao Ta FoodsJSC, Vietnam National Seed Group JSC, Southern Seed JSC, Aquatex Bến Tre JSC,Bibica JSC, Long An Food Processing Export JSC and Vietnam Fumigation JSC. 

TheHo Chi Minh Stock Exchange (HoSE) is awaiting installation of a new tradingsystem by the Korean stock exchange.

Thetemporary switch by companies is one of several solutions being considered byGovernment agencies to address the congestion, which is increasingly hinderingtrading, affecting investor sentiment.

TheState Securities Commission (SSC) has called on the Hanoi Stock Exchange (HNX)and Việt Nam Securities Depository to promptly accept companies moving fromHoSE, ignoring their normal review process.

Othersolutions like increasing the minimum trading lot to 1,000 shares and notallowing amending or cancelling orders are also being considered./.

VNA