A string of banks land the HSX

June 16, 2020 | 16:22
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Following recovery plans after the pandemic came under control in Vietnam, many banks have recently announced plans to move their lists to the Ho Chi Minh City Stock Exchange (HSX).
a string of banks land the hsx
Many banks are planning to shift the list to the HSX

In addition to the schemes for recovery after the COVID-19 crisis, shifting their lists to other stock exchanges is one of the most notable things in this year. Accordingly, many banks have targeted to move to the HSX.

According to materials for the ACB’s shareholder meeting on June 16, the bank submitted the plan of transferring its list from Hanoi Stock Exchange (HNX) to HSX.

“The transfer will benefit the ACB stocks, for instance, the ticker can be ranked in many indexes of HSX with sizable capitalisation proportions such as VN30 (4 per cent), VNDiamond (10 per cent), VNFIN Select (12 per cent), VNFIN Lead (12 per cent),” noted the statement. “Thanks to that, the market value of ACB stocks could improve.”

Elsewhere, at the annual shareholder meeting on June 30, VIB plans to submit a similar plan to its shareholders. Specifically, the bank wishes to switch its list to HSX after the three-year presence in UpCOM. The bank supposed the move as a piece of positive information for investors.

In the past, VIB stocks have received a lot of attention but many investors have yet to purchase them because the bank's ticker has been listed in UpCOM, which is intended for individual investors, not investment funds or organisations. Recently, VIB stock has been on trade at VND17,000 ($0.74) per stock.

Meanwhile, SHB's shareholders approved at their meeting on June 15 the bank's shift in listing from HNX to HSX. This year, SHB is one of the fast-growing bank stocks through the triple increase in market value against 2019. Currently, SHB's stock value is about VND15,800 ($0.68).

Additionally, LienVietPostBank (LPB) will finish the transfer of stock trading from UpCOM to HSX in this year aiming to “enhance its liquidity and massively benefit the shareholders,” according to the report of LPB’s management board at the meeting.

By Van Anh

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