Business

New shares debut on Hanoi bourse

The Hanoi Stock Exchange on Sept. 13 welcomed new listings by Nam Viet Bank (NVB), IDJ International Financial Investment and Enterprise Development Co (IDJ) and Asia Pacific Investment Co (API).
The Hanoi Stock Exchange on Sept. 13 welcomed new listings by Nam VietBank (NVB), IDJ International Financial Investment and EnterpriseDevelopment Co (IDJ) and Asia Pacific Investment Co (API).

Nam Viet Bank (NVB), which became the third bank listed on the northernbourse, issued 100 million shares, representing its entire chartercapital of 1 trillion VND (51.3 million USD). NVB closed up 8 percentfrom its opening price to 11,900 VND per share (0.61 USD), with 69,700changing hands.

This year, NVB targets earnings of2.67 trillion VND (136.9 million USD) and a net profit of at least 350billion VND (18 million USD). It has also set a goal of total assetsreaching 27 trillion VND (1.4 billion USD) by year's end and outstandingloans of 17 trillion VND (871.8 million USD).

The bank also plans to increase its charter capital to 3 trillion VND (153.8 million USD).

IDJ, which operates in the fields of infrastructure and real estatedevelopment, was founded in 2007 with domestic individuals contributingabout 90 percent of its charter capital.

This year,it targets earnings of 550 billion VND (28.2 million USD) and a netprofit of 75 billion VND (3.8 million USD). It has also set plans inplace to increase its charter capital to 400 billion VND (20.5 millionUSD)

IDJ shares closed down 12.5 percent on theiropening day to 17,500 VND (0.90 USD) per share, with nearly 1.1 milliontraded.

Real estate developer API, established in2007 with a charter capital of 264 billion VND (8.4 million USD), hasbeen listed on the unlisted public companies market (UPCoM) sinceOctober of last year.

It moved its listing to theprimary exchange, and saw its shares plunge by 10 percent from theiropening price to a close of 15,500 VND (0.79 USD) per share. API sharesgenerated a volume of 273,500 on their opening day.

API has targeted earnings of 200 billion VND (10.3 million USD) this year and a profit of 50 billion VND (2.6 million USD)./.
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