The Ho Chi Minh Security Exchange (HOSE) headquarter in HCM City. (Source: VNA)

Ho Chi Minh City (VNA) – The Ho Chi Minh Security Exchange (HOSE) announced that 172 million shares worth about 130 million USD were successfully auctioned in the first quarter (Q1) of 2016.

At a press conference on April 11, the HOSE said 24 enterprises, including six state-owned enterprises, put 307 million shares up for auction in Q1.

The HOSE also announced 63 shares not eligible for deposit transactions in the first quarter.

According to the HOSE, the 10 largest securities companies saw their combined market share slightly increase in Q1 to reach 68.73 percent of the country’s total brokerage value.

The top five securities companies in terms of market share in Q1 were Saigon Securities Inc (SSI) with 13.96 percent, Ho Chi Minh City Securities Joint Stock Company (HSC) 13.67, Ban Viet Securities (VCSC) 10.18, VN Direct Securities (VNDS) 5.41 and MB Securities (MBS) 5.23.

Regarding the removal of foreign ownership cap, Tran Anh Dung, General Director of the HOSE, said Decree No 60/2015/ND-CP, which modifies Decree No 58/2012/ND-CP, took effect on September 1, 2015 but the market is still waiting for more detailed guidelines, such as the list of conditional business sectors.

In addition, the extending of foreign ownership also depends on shareholder meetings of each company, he said, adding that progress has been made.

Dung said that the HOSE will prioritise the development of new products, improvement of quality and transparency, besides increasing transactions and connecting member enterprises.-VNA