HoSE to list 1.2 billion new shares this month
HoSE to list 1.2 billion new shares this month
Amid system overloads, the Ho Chi Minh Stock Exchange (HoSE) is set to list 1.2 billion new shares from three companies this month.
An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
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Ticker VCA of steel producer VICASA – VNSteel, based in the southern province of Dong Nai, will be listed on March 10 with 15.18 million shares at VND13,100 ($0.57) each.
Textile company Tien Son Thanh Hoa (AAT) will be listed on March 24 with nearly 35 million shares at VND10,600 each.
On the same day, 1.2 billion SSB shares of SeaBank will be listed at VND16,800 each.
With the new listing, the main bourse will see its total market cap increase by VND20.8 trillion ($902.76 million).
The listings are expected to create more pressure on HoSE’s 20-year-old system which has suffered frequent overloads due to a surge in the number of investors.
A number of tickers on HoSE are set to be temporarily moved to the Hanoi Stock Exchange (HNX) while the former works to upgrade its system, which could take until the end of the year.
HoSE has also proposed that the minimum trading lot be increased from 100 to 1,000 to reduce the number of transactions.
Since the beginning of the year HoSE has listed 10 new stocks, accounting for a third of the total last year.
