Hanoi (VNA) - The StateSecurities Commission of Vietnam (SSC) terminated the operations of 28securities companies, approved the dissolution of 5 companies, merged 8 companies and withdrew the brokerage business of 13 companies in the firsthalf of this year.
This was mentioned at SSC’s preliminaryconference recapping events of the first six months and noting tasks for thelast six months of 2017, held last week.
There are currently 74 securitiescompanies on the stock market, a reduction of 28 percent in the total number ofcompanies.
The securities companies have focused onrestructuring capital, strategic shareholders, business operations, technologyand human resources.
In the reviewed period, on both the HCMCity Stock Exchange (HoSE) and the Hanoi Stock Exchange (HNX), there were 714listed companies and fund certificates with total listed value of more than 640trillion VND (28.2 billion USD), up six percent compared with the end of 2016.
The Unlisted Public Company Market(UPCoM) also showed positive results, with 532 registered businesses by the endof May with registered trading value of 186 trillion VND, an increase of 42.6 percentover the end of last year.
The two stock exchanges organised 32stock auctions during the first half 2017. The total volume of winning sharesreached over 176.4 million shares, earning 2.93 billion VND, and the successrate reached nearly 90 percent.
With regard to the restructuring ofsecurities companies in the future, SSC is moving in the direction of reducingthe quantity of securities companies and improving the quality of operations,enhancing management and supervision, and conducting risk-based supervision onthe basis of classification and early-warning regulations.-VNA
VNA