OCB is among ten banks that will have to sprint to be able to meet the Government’s listing deadline on UPCoM by the end of this year. (Photo cafef.vn) Hanoi (VNA) -Ten commercial banks will have to sprint to be able to meet the Government’slisting deadline on the Unlisted Public Company Market (UPCoM) by the end ofthis year.
According to the Government’s regulations, all 730 equitised companies yet tobe listed on the UPCoM will have to list on the bourse by the end of this year.Ten banks - OCB, ABBank, Techcombank and NamABank, as well as MaritimeBank,VietABank, TPBank and Seabank, along with HDBank and LienVietPostBank, areamong the firms named.
The 10 banks repeatedly made plans to list on the stock market in the pastyear, however, they were forced to postpone due to the unfavourable marketconditions.
Till date, only VIB and Kienlongbank (KLB) have listed on UPCoM this year. VIBlisted more than 564 million shares on the UPCoM on January 9 and plans to liston the HCM Stock Exchange next year.
The VIB share is being traded at some 22,300 VND, increasing from 17,000 VND onthe first trading day. Meanwhile, 300 million KLB shares were listed on theUPCom on June 29 at 10,000 VND per unit.
The share is currently being traded at some 10,300 VND.
Previously, during the 2017 annual general meeting (AGM) season in April,shareholders of banks such as Techcombank, ABBank, OCB and LienVietPostBankapproved the listing of banks’ shares on the UPCoM.
LienVietPostBank on July 17 announced the closing of the list of shareholdersto follow procedures for listing 646.6 million bank shares on the UPCom.
Techcombank was also granted share code TCB to list on the bourse.
The bank’s share is being traded at 37,000 VND on the OTC market.
ABBank, meanwhile, still has to wait for the State Securities Commission’sapproval to be able to list on the UPCoM this month.
With only 3 percent of shareholders agreeing with the bank’s plan to list onUPCoM at its AGM in April, MaritimeBank has no plans to list on themarket.
A similar trend was seen with HDBank. Explaining the move, HDBank leaders saidnot listing might not be to the bank’s disadvantage because the real value ofHDBank will have to be assessed by the market at a time when the bank hasconfirmed its position, development strategy and prospects for the future. Thelisting will mean nothing if the bank’s share is listed and traded below theface value which is the case with some other listed banks. Currently, an HDBankshare is being trading at 17,000 VND on the OTC market.
According to analysts, now is the perfect time for banks to list their sharesas market conditions are favourable with bank share prices having bounced backfollowing a long period of decline.-VNA
According to the Government’s regulations, all 730 equitised companies yet tobe listed on the UPCoM will have to list on the bourse by the end of this year.Ten banks - OCB, ABBank, Techcombank and NamABank, as well as MaritimeBank,VietABank, TPBank and Seabank, along with HDBank and LienVietPostBank, areamong the firms named.
The 10 banks repeatedly made plans to list on the stock market in the pastyear, however, they were forced to postpone due to the unfavourable marketconditions.
Till date, only VIB and Kienlongbank (KLB) have listed on UPCoM this year. VIBlisted more than 564 million shares on the UPCoM on January 9 and plans to liston the HCM Stock Exchange next year.
The VIB share is being traded at some 22,300 VND, increasing from 17,000 VND onthe first trading day. Meanwhile, 300 million KLB shares were listed on theUPCom on June 29 at 10,000 VND per unit.
The share is currently being traded at some 10,300 VND.
Previously, during the 2017 annual general meeting (AGM) season in April,shareholders of banks such as Techcombank, ABBank, OCB and LienVietPostBankapproved the listing of banks’ shares on the UPCoM.
LienVietPostBank on July 17 announced the closing of the list of shareholdersto follow procedures for listing 646.6 million bank shares on the UPCom.
Techcombank was also granted share code TCB to list on the bourse.
The bank’s share is being traded at 37,000 VND on the OTC market.
ABBank, meanwhile, still has to wait for the State Securities Commission’sapproval to be able to list on the UPCoM this month.
With only 3 percent of shareholders agreeing with the bank’s plan to list onUPCoM at its AGM in April, MaritimeBank has no plans to list on themarket.
A similar trend was seen with HDBank. Explaining the move, HDBank leaders saidnot listing might not be to the bank’s disadvantage because the real value ofHDBank will have to be assessed by the market at a time when the bank hasconfirmed its position, development strategy and prospects for the future. Thelisting will mean nothing if the bank’s share is listed and traded below theface value which is the case with some other listed banks. Currently, an HDBankshare is being trading at 17,000 VND on the OTC market.
According to analysts, now is the perfect time for banks to list their sharesas market conditions are favourable with bank share prices having bounced backfollowing a long period of decline.-VNA
VNA
