The developments of the stock market and the unsatisfactory nationaleconomic situation are making commercial banks think twice beforedeciding on the time for their listing although many listing plans havebeen approved at their shareholders’ meetings.
TheDong A Bank Board of Directors once again put its listing plan on thetable at the annual shareholders’ meeting on March 12, after this planwas unable to be implemented late last year when the stock market wasfacing many difficulties.
Now, the bank plans to list its shares on the Ho Chi Minh Stock Exchange (HoSE) in the fourth quarter of this year.
Dong A Bank General Director Tran Phuong Binh said that the decisionaims to create conditions for the bank to complete the raising of itschartered capital to 6 trillion VND from the current 4.5 trillion VND,including 900 billion VND to be sold to foreign partners, before itoffers shares to the market.
The Military CommercialJoint Stock Bank (MB) also decided to suspend its listing due tounfavourable developments in the second half of last year though it hadgot the State Bank approval for its listing on HoSE in the secondquarter of 2010.
“We will continue making preparationsand selecting an appropriate time for listing,” said MB Deputy GeneralDirector Cao Thi Thuy Nga.
Despite finishing its planto raise chartered capital to 3 trillion VND under its roadmap, WesternBank still proves to be cautious about its listing. According to thebank’s leaders, the listing will be only implemented if marketconditions are favourable.
At present, six banks arelisting shares on HoSE and HNX, including STB, VCB, CTG, EIB, ACB andSHB. In the context of the declining stock market, these banks’ sharessee few transactions and the situation is predicted not to improveimmediately due to unsatisfactory economic developments.
Experts said that prices of banking shares are yet to recover and may decrease due to the massive issuance wave of banks./.
TheDong A Bank Board of Directors once again put its listing plan on thetable at the annual shareholders’ meeting on March 12, after this planwas unable to be implemented late last year when the stock market wasfacing many difficulties.
Now, the bank plans to list its shares on the Ho Chi Minh Stock Exchange (HoSE) in the fourth quarter of this year.
Dong A Bank General Director Tran Phuong Binh said that the decisionaims to create conditions for the bank to complete the raising of itschartered capital to 6 trillion VND from the current 4.5 trillion VND,including 900 billion VND to be sold to foreign partners, before itoffers shares to the market.
The Military CommercialJoint Stock Bank (MB) also decided to suspend its listing due tounfavourable developments in the second half of last year though it hadgot the State Bank approval for its listing on HoSE in the secondquarter of 2010.
“We will continue making preparationsand selecting an appropriate time for listing,” said MB Deputy GeneralDirector Cao Thi Thuy Nga.
Despite finishing its planto raise chartered capital to 3 trillion VND under its roadmap, WesternBank still proves to be cautious about its listing. According to thebank’s leaders, the listing will be only implemented if marketconditions are favourable.
At present, six banks arelisting shares on HoSE and HNX, including STB, VCB, CTG, EIB, ACB andSHB. In the context of the declining stock market, these banks’ sharessee few transactions and the situation is predicted not to improveimmediately due to unsatisfactory economic developments.
Experts said that prices of banking shares are yet to recover and may decrease due to the massive issuance wave of banks./.
