Illustrative photo (Source: VNA) Hanoi (VNA) – Vietnam’s stock market capitalisation rose 13.5 percentagainst the end of last year, reaching a record high of 3.98 quadrillion VND (170.93billion USD), according to the State Securities Commission (SSC).
Thevalue was equivalent to 79.6 percent of the country’s gross domestic product(GDP).
Since the outset of the year, foreigncapital inflows into the stock market were estimated at 2.8 billion USD, a bitlower than 2.92 billion USD recorded in 2017.
However, the figure showed that foreigninvestors still have confidence in the Vietnamese stock market in the contextthat they have withdrawn more than 27.34 billion US from emerging markets likethe Republic of Korea, Thailand, Indonesia, the Philippines, India, and Taiwan.
Large share transactions have helped lure bothdomestic and foreign capital into the stock market in 2018.
On May 18, Vinhomes JSC sold nearly 268 millionshares via put-through transactions on the Ho Chi Minh Stock Exchange (HoSE).
The deal lured big attention from investors as the number of shares asked bypotential investors was four times higher than the amount of shares offered byVinhomes.
The value of the deal was 1.35 billion USD, andit was the biggest deal in the last two years, exceeding the IPO values ofother firms such as VPBank, Techcombank, Vietjet and Vincom Retail.
The stock market also secured some 922 millionUSD from the Vietnam Technological and Commercial Joint Stock Bank(Techcombank)’s initial public offering on April 27. The bank put up for salemore than 164 million shares at the price of 120,000 VND (5.62 USD) per share.
The year 2018also witnessed impressive state divestment, including the sale of 78.99 percentof stakes at the Vietnam Construction and Import-Export JSC (Vinaconex). TheState Capital Investment Corporation (SCIC) sold its total ownership at thefirm for 7.36 trillion VND (327.4 million USD). Meanwhile, the Viettel MilitaryIndustry and Telecoms Group also offloaded its 94 million Vinaconex shares for2 trillion VND (86.9 million USD).
Earlier, some 16.6 trillion VND (712.9 million USD) was raised from the IPO ofBinh Son Refining and Petrochemical Company (BRS), PetroVietnam Oil Corporation(PV Oil), and PetroVietnam Power Corporation (PV Power).-VNA
