HA NOI — The VN-Index lost another 3.62 per cent yesterday, ending the week’s first trading session at a very low 487.13 points. The value of the day’s trades on the HCM City Stock Exchange grew by a modest 12 per cent from Friday to nearly VND1.8 trillion (US$94.7 million), on a volume of almost 40.6 million shares. Losers outnumbered gainers by 191-10. Shares of Sao Mai Construction Co (ASM) and HCM City Foreign Trade Development and Investment Co (FDC) saw their first day of trading, with ASM seeing only 20 shares change hands out of over 9.9 million listed. FDC closed up to VND43,100 ($2.30) per share on a volume of 318,650, out of nearly 14.3 million shares listed. On the Ha Noi Stock Exchange, the HNX-Index also plummeted by nearly 4 per cent to close the day at 164.54. Trading volume increased to 22.5 million shares, worth a combined VND735.27 billion ($39.1 million), while decliners outnumbered gainers by 216-28. Can Tho Pesticides Co (CPC) saw it first day of … [Read more...] about Inflation worries depress shares
HA NOI — Shares rebounded yesterday on the HCMC Stock Exchange, halting a four-day losing streak, while stocks continued to rise on the Ha Noi Stock Exchange on positive news about bond yields. Although the central bank has denied rumours that it might soon lower the cap on deposit interest rates to 12 per cent per year, many investors continued to believe in such a possibility following Thursday's Government meeting, in which officials again emphasised the objective of lowering interest rates. News that commercial banks had bought up an entire issue of Government bonds valued at VND2.5 trillion (US$119 million) on Wednesday at a yield of just 12.2 per cent suggested banks were anticipating a likely reduction in interest rates in the near future. However, Bao Viet Securities Co analyst Pham Van Khoa warned that, even though slowed inflation created a precondition for lower interest rates, rates were unlikely to decline in the final month of the year, when payment demand was high … [Read more...] about Shares bounce back on yields
VietNamNet Bridge – A lot of businesses submit to shareholders’ meeting the plan to issue shares at knock-down prices in order to seek more capital for their operation. However, instead of issuing shares to existing shareholders, they plan to sell shares to the outsiders. Are businesses really thirsty for capital? The fact that listed companies rush to issue shares at low prices remains enigmatic to both experts and investors. Three years ago, TRI, a drink company, stirred up the public when issuing 20 million shares at 7520 dong per share, which was lower than the face value and lower than the market price of TRI shares at that time. However, issuing shares at low price has become no more a surprise. Truong Thanh Wooden Furniture Corporation (TTF), Rong Viet Securities Company (VDS), Thai Hoa Vietnam (THV), De Tam Joint Stock Company (DTA) are also considering selling shares at the prices lower than the face values. TTF plans to issue 15.6 percent of shares at 5000 … [Read more...] about Businesses rush to issue shares at knock-down prices
VietNamNet Bridge - The price of Vinamilk shares at which SCIC sells at its initial public offering are expected to be higher than the market prices, or prices on the official bourse. “What will Vinamilk do to improve its competitiveness?” and “How can foreigners invest in the company?” . These were questions that Japanese investors raised to Mai Kieu Lien, CEO of Vinamilk, the nation’s leading dairy producer, when Lien attended the ceremony to receive Nikkei Asia 2015 award last May in Tokyo. Japanese investors have shown great interest in Vinamilk. At that time, when the ceremony took place, Decree 60 on allowing foreign investors to hold up to 100 percent of stake in Vietnamese businesses had not been released. However, they still hoped more room in Vinamilk would be offered to foreign investors. As soon as the government announced it would sell all of its Vinamilk shares, investors cast their eyes on SCIC. Until the disinvestment was … [Read more...] about How expensive will Vinamilk shares be?
Nghe Tinh Port sells out 3.89 million sharesLe Anh By Le Anh - The Saigon Times Daily HCMC – Nghe Tinh Port Holding Limited Liability Company, a subsidiary of Vietnam National Shipping Lines (Vinalines), sold out 3.89 million shares with the starting price of VND10,100 each (47 U.S. cents) at its initial public offering (IPO) on Wednesday. According to the Hanoi Stock Exchange, 47 investors attended the IPO auction and registered to buy nearly 8.6 million shares, over two times higher than the volume put up for sale. The biggest volume of shares investors wanted to buy was 2.2 million while the highest bid was VND12,500 per share, up over 23.7% against the starting price. Closing the auction, all the shares offered for sale were acquired by nine investors with the average winning price of VND12,129. The enterprise raised VND47.2 billion (US$2.2 million) from the auction. Nghe Tinh Port’s IPO was the most successful compared to other IPOs of Vianlines subsidiaries … [Read more...] about Nghe Tinh Port sells out 3.89 million shares