Shares worth $130m auctioned in Q1: HOSE
Shares worth $130m auctioned in Q1: HOSE
The Ho Chi Minh City Security Exchange (HOSE) announced 172 million shares worth some US$130 million were successfully auctioned in the first quarter of 2016.
At a press conference on April 11, the HOSE said 24 enterprises, including six state-owned enterprises, had put up 307 million shares for auction in Q1.
The exchange also announced 63 shares were not eligible for deposit transactions in the first quarter.
According to the HOSE, the 10 largest securities companies saw their combined market share increase slightly in Q1 to reach 68.73 per cent of the country's total brokerage value.
The top five securities companies in terms of market share in Q1 were Saigon Securities Inc (SSI), with 13.96 per cent; Ho Chi Minh Securities Joint Stock Company (HSC), with 13.67 per cent; Ban Viet Securities (VCSC), with 10.18 per cent; VN Direct Securities (VNDS), with 5.41 per cent; and MB Securities (MBS), with 5.23 per cent.
Regarding the removal of the foreign ownership cap, Tran Anh Dung, general director of the HOSE, said Decree No. 60/2015/ND-CP, which was a modification of Decree No. 58/2012/ND-CP, had come into effect on September 1, 2015, but the market was still waiting for more detailed guidelines, such as the list of conditional business sectors.
In addition, the extension of foreign ownership also depended on the shareholder meetings of each company, he said, adding that progress had been made.
Dung said the exchange would prioritise the development of new products and the improvement of quality and transparency, besides increasing transactions and connecting member enterprises.
