Despite the slowdown in global deal-making due to ongoing worldwide economic uncertainty, Vietnam remains active in M&A in 2020, according to a new report by Baker McKenzie.
The new budget carrier Bamboo Airways plans to list 400 million shares on Ho Chi Minh City Stock Exchange or Hanoi Stock Exchange in January 2020 at the earliest.
Bamboo Airways, a subsidiary of real estate developer FLC Group, is planning to issue an initial public offering (IPO) in 2020 to serve its expansion plans.
The Hanoi Stock Exchange (HNX) has approved the listing of 45.7 million shares of Vietnam Television Cable Corporation (VTVCab) on the Unlisted Public Company Market (UPCoM) with the code CAB.
Since 2016, the equitisation and divestment have been carried out at 35 out of 127 State-owned enterprises (SOEs), equivalent to 27.5 percent, while 88 out of 405 firms have completed divestment.
More than 40 companies have lined up to raise about 30 trillion Rp (2.2 billion USD) in fresh capital through initial public offerings (IPO) and bond and rights issuances through the Indonesia Stock Exchange (IDX) within the next few months, according to the Financial Services Authority (OJK).
The Vietnam Maritime Commercial Joint Stock Bank (MSB) is planning to list its shares on the Ho Chi Minh Stock Exchange (HoSE) in the third quarter of 2019.
The national carrier Vietnam Airlines (UPCoM: HVN) has gained approval of the Ho Chi Minh Stock Exchange (HoSE) to list its 1.4 billion shares on the southern bourse.
The Binh Son Refining and Petrochemical Company (BSR), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam – PVN), grossed over 112 trillion VND (4.83 billion USD) in revenue in 2018 thanks to the production and sale of over 7 million tonnes of its products.
Transparency and quality of information disclosure are the main concerns for market members, public companies and auditors to lure a larger amount of capital in 2019, business executives have said.
'There will be no additional personnel. Staff of Hanoi and Ho Chi Minh City Stock Exchanges will be working for Vietnam Stock Exchange. They will run the new stock exchange together.'
The Vietnam Bank for Agriculture and Rural Development (Agribank) has been recently named in the top 500 strongest banks (AB500) in Asia-Pacific by the Asian Banker.
The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem.
Business
