Two and a half million shares of the Song Da No 6.06 Joint Stock Company were officially listed on the Hanoi Securities Trading Centre under the symbol SSS on August 28, bringing the total companies listed on the centre to 89.
On its first trading session, 10,200 SSS shares were traded at an average price of VND 50.700 a share.
The company is the 20th member of the Song Da Corporation listed on the northern bourse.
Song Da 6 Construction Company’s affiliate in Thua Thien- Hue, the precursor of Song Da No 6.06 JSC, was established in 1999. In 2002, the affiliate was shifted to Song Da 6.06 Enterprise under the Song Da 6 Company. Since January 2004, it has officially operated as a joint stock company with a registered capital of VND 5 billion.
After three years of operation, the company achieves an annual average growth of 30% with the charter capital increasing five fold to VND 25 billion in 2007, affirming its prestige in the central Thua Thien-Hue province as well as the central region and the Central Highlands.
Song Da 6 JSC currently holds 50% stake in Song Da No 6.06 JSC; 28.74% others belong to outside shareholders and the remaining are owned by the company’s employees.
The company specialises in providing assembling products and industrial production products such as concrete and concrete execution, exploiting limestone for cement companies, cement trading, etc.
Last year, the company’s total revenue stood at over VND 79 billion with an after tax profit of VND 4.7 billion and a 20% dividend. This year, Song Da No 6.06 JSC targets a total revenue of VND 116 billion with a net profit of nearly VND 8 billion and 19% dividend.
Source: VNE
Showing posts with label Hanoi Securities Trading Centre. Show all posts
Showing posts with label Hanoi Securities Trading Centre. Show all posts
Wednesday, August 29, 2007
Friday, August 03, 2007
Petrovietnam Insurance gets initial listing permit
Petrovietnam Insurance Corporation (PVI), Vietnam's third-largest insurer, has won initial approval to list on the over-the-counter Hanoi stock market (HASTCI), the exchange said on Thursday.
Hanoi-based PVI, the insurance arm of state oil and gas Petrovietnam group, was given approval to list all its 50 million shares, exchange director Tran Van Dung said in a statement.
Dung did not say when PVI would make its share debut.
Shares in PVI fell to 75,000-77,000 dong ($4.65-$4.77) on the unofficial markets this week from 80,000-82,000 dong early last month, valuing the firm at $235 million.
Vietnam's insurance sector has grown rapidly in recent years as domestic economic growth was more than 8 percent in 2005 and 2006. The government expects 9 percent growth in the second half of this year, up from 7.87 percent in the first half.
The Hanoi market said in another statement that PVI had raised 36.8 billion dong ($2.3 million) from selling 483,400 shares on Tuesday at an average price of 76,190 dong.
The shares sold were left from an auction in June in which investors bid but then refused to buy the stocks, the Hanoi market said without giving a reason for the refusal.
The share sale was part of PVI's plan to issue more than 35 million shares, with proceeds going to building three oil tankers, buying stakes in two financial firms and a power plant construction firm in Laos.
Last year, PVI had an 18.09 percent market share of Vietnam's non-life insurance market, making it the third biggest after Bao Viet, which had a 34.94 percent share, and Bao Minh (BMI) with 21.29 percent, industry reports said.
The Hanoi market's index, now with 88 listed firms, fell 0.57 percent to close at 258.52 points on Thursday.
Source: Reuters
Hanoi-based PVI, the insurance arm of state oil and gas Petrovietnam group, was given approval to list all its 50 million shares, exchange director Tran Van Dung said in a statement.
Dung did not say when PVI would make its share debut.
Shares in PVI fell to 75,000-77,000 dong ($4.65-$4.77) on the unofficial markets this week from 80,000-82,000 dong early last month, valuing the firm at $235 million.
Vietnam's insurance sector has grown rapidly in recent years as domestic economic growth was more than 8 percent in 2005 and 2006. The government expects 9 percent growth in the second half of this year, up from 7.87 percent in the first half.
The Hanoi market said in another statement that PVI had raised 36.8 billion dong ($2.3 million) from selling 483,400 shares on Tuesday at an average price of 76,190 dong.
The shares sold were left from an auction in June in which investors bid but then refused to buy the stocks, the Hanoi market said without giving a reason for the refusal.
The share sale was part of PVI's plan to issue more than 35 million shares, with proceeds going to building three oil tankers, buying stakes in two financial firms and a power plant construction firm in Laos.
Last year, PVI had an 18.09 percent market share of Vietnam's non-life insurance market, making it the third biggest after Bao Viet, which had a 34.94 percent share, and Bao Minh (BMI) with 21.29 percent, industry reports said.
The Hanoi market's index, now with 88 listed firms, fell 0.57 percent to close at 258.52 points on Thursday.
Source: Reuters
Thursday, July 26, 2007
Nine companies to list on Ha Noi bourse
Nine companies have sent financial documents and applications to the Ha Noi Securities Trading Centre (HaSTC) to list on the bourse.
PV Gas North was among three companies on July 25 that submitted documents to authorities, and is the biggest with 135 billion VND in charter capital.
The other two are Lam Dong Food Company worth 12 billion VND and Ngo Quyen Seafood Export Company worth 10 billion VND.
Cho Lon Real Estate Co was the first company to list on the bourse this year, incrasing the number of stocks on the exchange to 87.
Source: VNA
PV Gas North was among three companies on July 25 that submitted documents to authorities, and is the biggest with 135 billion VND in charter capital.
The other two are Lam Dong Food Company worth 12 billion VND and Ngo Quyen Seafood Export Company worth 10 billion VND.
Cho Lon Real Estate Co was the first company to list on the bourse this year, incrasing the number of stocks on the exchange to 87.
Source: VNA
Wednesday, July 25, 2007
SSI to move listing from Hanoi to HCMC
Vietnam's largest brokerage, Saigon Securities Inc. (SSI), said on Wednesday it would seek permission to shift its share listing to the Ho Chi Minh Stock Exchange from the Hanoi market.
Executive Director Nguyen Hong Nam said in a statement the Ho Chi Minh City-based SSI would submit an application by August 5 and list all its 80 million shares on the main exchange after a licence is in place.
He did not give a reason for the move, but companies find the Ho Chi Minh exchange more attractive due to its greater liquidity partly due to the listing of major stocks such as Vinamilk, FPT and Sacombank on the exchange.
On Wednesday, the total value of shares traded in the Ho Chi Minh City market hit $31.5 million, compared with just $4.9 million in the Hanoi market.
Analysts said many companies launched their initial listings last year on the Hanoi market -- where listing rules are less stringent -- to test market sentiment about their stocks, and also to take advantage of corporate tax relief for listed firms which expired on Dec. 31, 2006.
The Hanoi market now trades in 87 stocks, including SSI, with a total capitalisation of $5 billion, while the Ho Chi Minh market has 109 listed firms with a capitalisation of nearly $13 billion.
SSI, which underwrites share and debt issues and advises state-run companies on privatisation, is one of more than 50 companies offering such services in Hanoi and Ho Chi Minh City.
The State Securities Commission said about two dozen more brokerages were seeking operating licences in Vietnam's capital.
The Australia and New Zealand Banking Group Ltd. has a 10 percent stake in SSI while Japan's Daiwa Securities Group Incorporation has a 1.25 percent stake.
SSI said it posted a record net profit of 668.5 billion dong ($41 million) in the first six months of this year, more than four times its annual earnings last year.
Shares in the brokerage gained 0.32 percent to close at 156,500 dong ($9.7) on Wednesday on the over-the-counter Hanoi market.
Source: Reuters
Executive Director Nguyen Hong Nam said in a statement the Ho Chi Minh City-based SSI would submit an application by August 5 and list all its 80 million shares on the main exchange after a licence is in place.
He did not give a reason for the move, but companies find the Ho Chi Minh exchange more attractive due to its greater liquidity partly due to the listing of major stocks such as Vinamilk, FPT and Sacombank on the exchange.
On Wednesday, the total value of shares traded in the Ho Chi Minh City market hit $31.5 million, compared with just $4.9 million in the Hanoi market.
Analysts said many companies launched their initial listings last year on the Hanoi market -- where listing rules are less stringent -- to test market sentiment about their stocks, and also to take advantage of corporate tax relief for listed firms which expired on Dec. 31, 2006.
The Hanoi market now trades in 87 stocks, including SSI, with a total capitalisation of $5 billion, while the Ho Chi Minh market has 109 listed firms with a capitalisation of nearly $13 billion.
SSI, which underwrites share and debt issues and advises state-run companies on privatisation, is one of more than 50 companies offering such services in Hanoi and Ho Chi Minh City.
The State Securities Commission said about two dozen more brokerages were seeking operating licences in Vietnam's capital.
The Australia and New Zealand Banking Group Ltd. has a 10 percent stake in SSI while Japan's Daiwa Securities Group Incorporation has a 1.25 percent stake.
SSI said it posted a record net profit of 668.5 billion dong ($41 million) in the first six months of this year, more than four times its annual earnings last year.
Shares in the brokerage gained 0.32 percent to close at 156,500 dong ($9.7) on Wednesday on the over-the-counter Hanoi market.
Source: Reuters
VDB sells 400 bln dong bond at 8.4 pct
State-run Vietnam Development Bank (VDB) has sold 400 billion dong ($24.8 million) worth of 15-year bonds at an auction, with an annual coupon of 8.4 percent, the Hanoi stock market said on Wednesday.
The over-the-counter exchange said three bidders sought to buy the debt at between 8.2 percent and 10 percent on Tuesday, when VDB offered 600 billion dong worth of the bond.
It gave no details of the buyers of the debt which VDB, one of Vietnam's two policy lending banks, will issue on Thursday for maturity on July 26, 2022.
The coupon of the bond sold on Tuesday was higher than the that of the bank's 15-year bond worth 500 billion dong sold on June 18 which carried a coupon of 8 percent.
Source: Reuters
The over-the-counter exchange said three bidders sought to buy the debt at between 8.2 percent and 10 percent on Tuesday, when VDB offered 600 billion dong worth of the bond.
It gave no details of the buyers of the debt which VDB, one of Vietnam's two policy lending banks, will issue on Thursday for maturity on July 26, 2022.
The coupon of the bond sold on Tuesday was higher than the that of the bank's 15-year bond worth 500 billion dong sold on June 18 which carried a coupon of 8 percent.
Source: Reuters
Sunday, July 22, 2007
PetroVietnam Insurance to list on Ha Noi bourse
PetroVietnam Insurance will list shares at the Ha Noi Securities Trading Centre by the end of this month, under a decision approved by the management board on July 19.
The company will list 50 million shares, worth a total 500 billion VND (31.3 million USD), followed by an additional listing worth 315 billion VND (19.7 million USD) two or three weeks later.
”We chose Ha Noi Securities Trading Centre because we want to meet the timetable of the listing under the requirements of our parent company, PetroVietnam,” said a representative of PetroVietnam Insurance’s legal department.
The company is deciding between Deloitte Viet Nam (previously Vaco) or Earnst & Young to consult for the listings, she added, and was also considering potential strategic partners.
The company plans to sell 149 billion VND (9.3 million USD) worth of shares in the fourth quarter of this year, of which 100 million VND (6.3 million USD) would be sold to a strategic partner, said PetroVietnam Insurance chairman Le Van Hung.
Source: VNA
The company will list 50 million shares, worth a total 500 billion VND (31.3 million USD), followed by an additional listing worth 315 billion VND (19.7 million USD) two or three weeks later.
”We chose Ha Noi Securities Trading Centre because we want to meet the timetable of the listing under the requirements of our parent company, PetroVietnam,” said a representative of PetroVietnam Insurance’s legal department.
The company is deciding between Deloitte Viet Nam (previously Vaco) or Earnst & Young to consult for the listings, she added, and was also considering potential strategic partners.
The company plans to sell 149 billion VND (9.3 million USD) worth of shares in the fourth quarter of this year, of which 100 million VND (6.3 million USD) would be sold to a strategic partner, said PetroVietnam Insurance chairman Le Van Hung.
Source: VNA
Monday, July 16, 2007
Petrolimex unit raises $4 mln in share sale
Vietnam's Petrolimex Petrochemical Company (PLC) raised $4 million from auctioning around 1 million new shares on Monday, the over-the-counter Hanoi stock market said.
The Hanoi-based firm had said it wanted to raise at least $18.6 million by selling 5 million shares, but investors bought only 1,096,500 shares at the auction at an average price of 60,250 dong, the market said in a statement.
Foreigners bought 754,500 shares, it said without giving a reason for the lower-than-expected sale.
The company, also known as PLC, produces and trades lubricants and bitumen.
It plans to sell another tranche of 5 million new shares next year to raise its chartered capital to 250 billion dong ($15.5 million) from 150 billion dong.
State-owned parent Petrolimex, which controls 60 percent of Vietnam's oil product import and retail market, would reduce its stake in PLC to 51 percent by 2010 from 85 percent now, PLC's prospectus published last month said.
Shares in PLC closed down 11 percent at 52,500 dong ($3.3) on Monday, valuing the firm at nearly $50 million.
Source: Reuters
The Hanoi-based firm had said it wanted to raise at least $18.6 million by selling 5 million shares, but investors bought only 1,096,500 shares at the auction at an average price of 60,250 dong, the market said in a statement.
Foreigners bought 754,500 shares, it said without giving a reason for the lower-than-expected sale.
The company, also known as PLC, produces and trades lubricants and bitumen.
It plans to sell another tranche of 5 million new shares next year to raise its chartered capital to 250 billion dong ($15.5 million) from 150 billion dong.
State-owned parent Petrolimex, which controls 60 percent of Vietnam's oil product import and retail market, would reduce its stake in PLC to 51 percent by 2010 from 85 percent now, PLC's prospectus published last month said.
Shares in PLC closed down 11 percent at 52,500 dong ($3.3) on Monday, valuing the firm at nearly $50 million.
Source: Reuters
Friday, July 13, 2007
Petrovietnam insurance arm seeks listing licence
Petrovietnam Insurance Corporation (PVI), Vietnam's third-largest insurer, has sought to list all its 50 million shares on the over-the-counter Hanoi stock market, the exchange said on Thursday.
Hanoi-based PVI, the insurance arm of state oil and gas Petrovietnam group, needed to provide additional information to its listing application before receiving a licence, the market authority said in a statement.
Shares in PVI were 80,000 dong to 82,000 dong ($5) on the unofficial markets, valuing the firm at $250 million.
Vietnam's insurance sector has grown rapidly in recent years as economic growth was more than 8 percent in 2005 and 2006. The government expects 9 percent growth in the second half of this year, up from 7.87 percent in the first half.
The growth potential for insurance in the country of 85 million people is huge as Vietnam spent $11 per head on insurance last year, up from $10 in 2005, compared with $46.3 in China, industry figures show.
Last month, PVI raised nearly $47 million by auctioning 10 million shares at an average 75,499 dong ($4.7) each, of which foreign investors bought more than 1.9 million.
The sale was part of PVI's plan to issue more than 35 million shares, with proceeds going to building three oil tankers, buying stakes in two financial firms and a power plant construction firm in Laos.
The state now owns 76 percent of PVI, outside investors have 23.46 percent and employees hold 0.54 percent.
Last year, PVI had an 18.09 percent market share of Vietnam's non-life insurance market, making it the third biggest after Bao Viet, which had a 34.94 percent share, and Bao Minh (BMI) with 21.29 percent, industry reports said.
PVI has been expanding from its core insurance business since early 2007 to areas such as crude oil production, banking, stock broking and cement production.
PVI said its audited net profit jumped 51.7 percent to 44 billion dong ($2.73 million) last year from 2005 following a 65.6-percent surge in insurance premiums to $72 million.
It had revenues of 1.2 trillion dong ($74.4 million) in the first half of this year, or 65 percent of its annual target.
Source: Reuters
Hanoi-based PVI, the insurance arm of state oil and gas Petrovietnam group, needed to provide additional information to its listing application before receiving a licence, the market authority said in a statement.
Shares in PVI were 80,000 dong to 82,000 dong ($5) on the unofficial markets, valuing the firm at $250 million.
Vietnam's insurance sector has grown rapidly in recent years as economic growth was more than 8 percent in 2005 and 2006. The government expects 9 percent growth in the second half of this year, up from 7.87 percent in the first half.
The growth potential for insurance in the country of 85 million people is huge as Vietnam spent $11 per head on insurance last year, up from $10 in 2005, compared with $46.3 in China, industry figures show.
Last month, PVI raised nearly $47 million by auctioning 10 million shares at an average 75,499 dong ($4.7) each, of which foreign investors bought more than 1.9 million.
The sale was part of PVI's plan to issue more than 35 million shares, with proceeds going to building three oil tankers, buying stakes in two financial firms and a power plant construction firm in Laos.
The state now owns 76 percent of PVI, outside investors have 23.46 percent and employees hold 0.54 percent.
Last year, PVI had an 18.09 percent market share of Vietnam's non-life insurance market, making it the third biggest after Bao Viet, which had a 34.94 percent share, and Bao Minh (BMI) with 21.29 percent, industry reports said.
PVI has been expanding from its core insurance business since early 2007 to areas such as crude oil production, banking, stock broking and cement production.
PVI said its audited net profit jumped 51.7 percent to 44 billion dong ($2.73 million) last year from 2005 following a 65.6-percent surge in insurance premiums to $72 million.
It had revenues of 1.2 trillion dong ($74.4 million) in the first half of this year, or 65 percent of its annual target.
Source: Reuters
Tuesday, July 10, 2007
Tung Kuang '07 net profit seen up 15 pct
Tung Kuang Industrial Co. (TKU), a small aluminium product maker backed by Taiwan investors, said on Tuesday it aimed to raise net profit by 15 percent this year to 25 billion dong ($1.55 million).
It said in a statement published by the Hanoi Securities Trading Centre, where it is listed, revenues this year would also rise by 15 percent from last year to 723.31 billion dong ($45 million) as it expanded production by 20 percent.
The company aimed to triple its dividend this year to 15 percent from 5 percent last year, the statement said.
Shares in Tung Kuang, which has invested about $35 million in two plants in southern Vietnam to make aluminium, aluminium windows and door frames using Australian ingots, fell 1.61 percent to 30,500 dong on Tuesday.
Source: Reuters
It said in a statement published by the Hanoi Securities Trading Centre, where it is listed, revenues this year would also rise by 15 percent from last year to 723.31 billion dong ($45 million) as it expanded production by 20 percent.
The company aimed to triple its dividend this year to 15 percent from 5 percent last year, the statement said.
Shares in Tung Kuang, which has invested about $35 million in two plants in southern Vietnam to make aluminium, aluminium windows and door frames using Australian ingots, fell 1.61 percent to 30,500 dong on Tuesday.
Source: Reuters
Vietnam raises $37 mln via govt bond, yield 7.4 pct
Vietnam raised 600 billion dong ($37 million) in an auction of 5-year bonds on Monday, the Hanoi stock market said.
The exchange said bids were between 7.35 percent and 8 percent and the bonds were sold at an annual coupon of 7.4 percent. The bonds will be issued on July 11 and mature on July 11, 2012.
On June 25, the Hanoi market sold 500 billion dong worth of 5-year government bonds at an annual coupon of 7.25 percent.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable. It has a Ba3 rating on the country's dong debt.
Source: Reuters
The exchange said bids were between 7.35 percent and 8 percent and the bonds were sold at an annual coupon of 7.4 percent. The bonds will be issued on July 11 and mature on July 11, 2012.
On June 25, the Hanoi market sold 500 billion dong worth of 5-year government bonds at an annual coupon of 7.25 percent.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable. It has a Ba3 rating on the country's dong debt.
Source: Reuters
Friday, July 06, 2007
Ha Noi bourse moves to modernise trading system
The Ha Noi Securities Trading Center (HaSTC) will continue to operate as a continuous order-matching system for the time being but will develop and implement international standard technology over the next two years, according to Jonathan Katz of the US Trade Development Agency.
”Eventually, there should be two tiers of listed companies. Tier one companies are large, liquid companies that will be trading using an order matching system that exists today. And the second are less liquid with fewer shareholders, which have lower listing requirements in terms of size and number of shareholders,” said Katz.
Katz and a team of consultants have conducted a feasibility study and issued a report offering suggestions on modernising the Ha Noi stock exchange.
Public disclosure of all company reports delivered to the HaSTC should be made as soon as the reports are received and in the form filed by the company, the report said.
If the reports were filed electronically, an electronic copy should be made available on the website of the bourse or the website of the company as soon as it is filed.
Staff of the HaSTC should closely monitor listed company disclosures and stress the importance of timely filling of reports.
The State Securities Commission should undertake to increase audit standards and improve the capacity of auditing firms, the report stated. The Ha Noi bourse should also develop an investigative procedures manual that defines the type of trading activity to be monitored and that identifies the investigative steps.
In addition, the HaSTC needed to take steps to ensure a sufficient number of order entry terminals to accommodate demand and the development of a remote access system for order entry should be a priority.
The bourse needed to expand IT capacity to handle ever-increasing trade volume, more listed companies, increased number of IPOs and increased surveillance activities.
”The bourse should continue with the current system of price collars on individual stocks. The main reason is that the market is very concentrated with four or five stocks making up a large part of the market index. As a result, movement in the index is driven by a few stocks, and it is better to have individual limits. The 10 percent band of daily price limits should be widened over the time as the market develops,” Katz said.
Source: VNA
”Eventually, there should be two tiers of listed companies. Tier one companies are large, liquid companies that will be trading using an order matching system that exists today. And the second are less liquid with fewer shareholders, which have lower listing requirements in terms of size and number of shareholders,” said Katz.
Katz and a team of consultants have conducted a feasibility study and issued a report offering suggestions on modernising the Ha Noi stock exchange.
Public disclosure of all company reports delivered to the HaSTC should be made as soon as the reports are received and in the form filed by the company, the report said.
If the reports were filed electronically, an electronic copy should be made available on the website of the bourse or the website of the company as soon as it is filed.
Staff of the HaSTC should closely monitor listed company disclosures and stress the importance of timely filling of reports.
The State Securities Commission should undertake to increase audit standards and improve the capacity of auditing firms, the report stated. The Ha Noi bourse should also develop an investigative procedures manual that defines the type of trading activity to be monitored and that identifies the investigative steps.
In addition, the HaSTC needed to take steps to ensure a sufficient number of order entry terminals to accommodate demand and the development of a remote access system for order entry should be a priority.
The bourse needed to expand IT capacity to handle ever-increasing trade volume, more listed companies, increased number of IPOs and increased surveillance activities.
”The bourse should continue with the current system of price collars on individual stocks. The main reason is that the market is very concentrated with four or five stocks making up a large part of the market index. As a result, movement in the index is driven by a few stocks, and it is better to have individual limits. The 10 percent band of daily price limits should be widened over the time as the market develops,” Katz said.
Source: VNA
Wednesday, July 04, 2007
Vietnam Development Bank bonds raise less than expected
State-run Vietnam Development Bank has raised 175 billion dong ($10.8 million) from auctioning its July 2017 bonds, or just a quarter of its total debt on offer, the Hanoi over-the-counter stock market said on Wednesday.
The exchange's bulletin said it sold the 10-year bond with a yield of 7.95 percent -- only 25 percent of the total 700 billion dong debt on offer -- after four bidders sought yields between 7.65 percent and 8.5 percent at the auction on Tuesday.
The bond, to be issued on July 5, will mature on July 5, 2017. Buyers of the debt were not identified by the market.
Last month, the lender, one of Vietnam's two policy banks, sold 500 billion dong worth of its 15-year bonds with a yield of 8 percent.
The Hanoi market said it would auction the State Treasury's five-year bond on July 9 to raise 700 billion dong ($43.4 million).
Source: Reuters
The exchange's bulletin said it sold the 10-year bond with a yield of 7.95 percent -- only 25 percent of the total 700 billion dong debt on offer -- after four bidders sought yields between 7.65 percent and 8.5 percent at the auction on Tuesday.
The bond, to be issued on July 5, will mature on July 5, 2017. Buyers of the debt were not identified by the market.
Last month, the lender, one of Vietnam's two policy banks, sold 500 billion dong worth of its 15-year bonds with a yield of 8 percent.
The Hanoi market said it would auction the State Treasury's five-year bond on July 9 to raise 700 billion dong ($43.4 million).
Source: Reuters
Thursday, June 28, 2007
Vietnam to auction $87 mln bonds
Vietnam plans to sell 1.4 trillion dong ($86.8 million) worth of government bonds at two auctions early next month, the Hanoi stock market said on Thursday.
The exchange said it would sell 10-year bonds to raise 700 billion dong ($43.4 million) on July 3 for maturity on July 5, 2017. The bond issuer is Vietnam Development Bank (VDB), one of the country's two state-run policy banks.
On July 9, the market will auction a 5-year bond worth 700 billion dong ($43.4 million) for maturity on July 11, 2012. The State Treasury will issue the debt.
On June 18, the exchange said it sold 500 billion dong of 15-years bonds issued by VDB at an annual yield of 8 percent.
In another auction on June 25, it sold 500 billion dong of 5-year bonds, offered by the State Treasury, at an annual coupon of 7.25 percent.
The Finance Ministry aims to sell 22 trillion dong ($1.37 billion) worth of government bonds between March and the end of this year to invest in transport and irrigation projects.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable.
It assigned a Ba3 rating for the country's dong-denominated debt.
Source: Reuters
The exchange said it would sell 10-year bonds to raise 700 billion dong ($43.4 million) on July 3 for maturity on July 5, 2017. The bond issuer is Vietnam Development Bank (VDB), one of the country's two state-run policy banks.
On July 9, the market will auction a 5-year bond worth 700 billion dong ($43.4 million) for maturity on July 11, 2012. The State Treasury will issue the debt.
On June 18, the exchange said it sold 500 billion dong of 15-years bonds issued by VDB at an annual yield of 8 percent.
In another auction on June 25, it sold 500 billion dong of 5-year bonds, offered by the State Treasury, at an annual coupon of 7.25 percent.
The Finance Ministry aims to sell 22 trillion dong ($1.37 billion) worth of government bonds between March and the end of this year to invest in transport and irrigation projects.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable.
It assigned a Ba3 rating for the country's dong-denominated debt.
Source: Reuters
Wednesday, June 27, 2007
PVI raises $47 mln in share sale
Petrovietnam Insurance Corp. (PVI), Vietnam's third-largest insurer, said on Wednesday it raised nearly $47 million from an auction of 10 million shares.
Investors paid an average 75,499 dong ($4.7) for shares offered at a starting price of 50,000 dong at the auction on June 26, the company said in a statement issued by the Hanoi stock exchange.
Foreign investors bought more than 1.9 million shares in the auction.
The sale was part of PVI's plan to issue more than 35 million shares to boost its registered capital to $52.9 million before a domestic listing later this year.
PVI has sold 25,135,000 shares to existing shareholders.
The Hanoi-based company raised nearly $117 million by selling 23 percent of its shares in an initial public offering in January.
Last year, PVI had an 18.09 percent share of Vietnam's non-life insurance market, making it the third biggest after state-run Bao Viet, which had a 34.94 percent share, and Bao Minh with 21.29 percent, industry reports said.
PVI said its audited net profit jumped 51.7 percent last year from 2005 to 44 billion dong following a 65.6-percent surge in insurance premiums to 1.16 trillion dong ($72 million).
Since the start of this year, PVI has been expanding from its core insurance business, investing in areas such as crude oil production, banking, stock broking and cement production.
PVI and Petrovietnam have become founding members of a company building several hydro-power plants in Laos.
PVI said its revenues soared 165 percent in the first four months of 2007 from a year earlier to more than 750 billion dong ($46.6 million).
Source: Reuters
Investors paid an average 75,499 dong ($4.7) for shares offered at a starting price of 50,000 dong at the auction on June 26, the company said in a statement issued by the Hanoi stock exchange.
Foreign investors bought more than 1.9 million shares in the auction.
The sale was part of PVI's plan to issue more than 35 million shares to boost its registered capital to $52.9 million before a domestic listing later this year.
PVI has sold 25,135,000 shares to existing shareholders.
The Hanoi-based company raised nearly $117 million by selling 23 percent of its shares in an initial public offering in January.
Last year, PVI had an 18.09 percent share of Vietnam's non-life insurance market, making it the third biggest after state-run Bao Viet, which had a 34.94 percent share, and Bao Minh with 21.29 percent, industry reports said.
PVI said its audited net profit jumped 51.7 percent last year from 2005 to 44 billion dong following a 65.6-percent surge in insurance premiums to 1.16 trillion dong ($72 million).
Since the start of this year, PVI has been expanding from its core insurance business, investing in areas such as crude oil production, banking, stock broking and cement production.
PVI and Petrovietnam have become founding members of a company building several hydro-power plants in Laos.
PVI said its revenues soared 165 percent in the first four months of 2007 from a year earlier to more than 750 billion dong ($46.6 million).
Source: Reuters
Tuesday, June 26, 2007
Song Da 9 to raise 10mio US$
Vietnam construction firm Song Da 9 (SD9) said on Tuesday it would sell 4 million new shares by auction to raise about $10 million to purchase equipment and expand its business.
The company, which specalises in power plants and irrigation projects, said the auction would be held before September 18 and it would would issue 2.95 million shares to existing shareholders at 10,000 dong each ($0.62) next month.
The amount of money the firm sought to raise suggested it aimed to sell the shares at about 40,000 dong each ($2.5), traders said.
At 0230 GMT, shares in the company were traded on the Hanoi exchange at 72,000 dong ($4.5), down 0.55 percent from Monday.
Song Da 9 now has a price to earnings ratio of 21.20 and a return on equity of 30.89 percent.
Source: Reuters
The company, which specalises in power plants and irrigation projects, said the auction would be held before September 18 and it would would issue 2.95 million shares to existing shareholders at 10,000 dong each ($0.62) next month.
The amount of money the firm sought to raise suggested it aimed to sell the shares at about 40,000 dong each ($2.5), traders said.
At 0230 GMT, shares in the company were traded on the Hanoi exchange at 72,000 dong ($4.5), down 0.55 percent from Monday.
Song Da 9 now has a price to earnings ratio of 21.20 and a return on equity of 30.89 percent.
Source: Reuters
Vietnam raises $62 mln in bond sales
Vietnam raised 1 trillion dong ($62 million) from two auctions of government bonds this month, 700 billion dong short of its target, the Hanoi stock exchange said on Monday.
The exchange said in one auction of 1 trillion dong on June 18, only half the issue, which carries a maturity of 15 years and was issued the Vietnam Development Bank, was sold.
Bids came in between 7.9 and 10 percent and the bonds were sold at an annual yield of 8 percent, the exchange said.
The statement said in another auction on June 25, 500 billion dong of 700 billion 5-year bonds offered by the State Treasury were sold at an annual coupon of 7.25 percent. Bids ranged from 7.15 percent to 8 percent.
On June 14, the Hanoi market sold 500 billion dong ($31 million) worth of Ho Chi Minh City's urban bonds. The yield on a five-year bond, worth 150 billion dong, was 7.8 percent while the 15-year bond carried yield of 8.25 percent.
The Finance Ministry aims to sell 22 trillion dong ($1.37 billion) worth of government bonds between March and the end of this year to invest in transport and irrigation projects.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable. It assigned a Ba3 rating for the country's dong debts.
Source: Reuters
The exchange said in one auction of 1 trillion dong on June 18, only half the issue, which carries a maturity of 15 years and was issued the Vietnam Development Bank, was sold.
Bids came in between 7.9 and 10 percent and the bonds were sold at an annual yield of 8 percent, the exchange said.
The statement said in another auction on June 25, 500 billion dong of 700 billion 5-year bonds offered by the State Treasury were sold at an annual coupon of 7.25 percent. Bids ranged from 7.15 percent to 8 percent.
On June 14, the Hanoi market sold 500 billion dong ($31 million) worth of Ho Chi Minh City's urban bonds. The yield on a five-year bond, worth 150 billion dong, was 7.8 percent while the 15-year bond carried yield of 8.25 percent.
The Finance Ministry aims to sell 22 trillion dong ($1.37 billion) worth of government bonds between March and the end of this year to invest in transport and irrigation projects.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable. It assigned a Ba3 rating for the country's dong debts.
Source: Reuters
Monday, June 25, 2007
Petrovietnam Insurance to sell $31 mln of shares
Petrovietnam Insurance Corp. (PVI), Vietnam's third-largest insurer, plans to raise at least $31 million from an auction of 10 million new shares this week.
The insurer said in a statement seen on Monday it had set a starting price for bidding at 50,000 dong ($3.1) a share for the auction scheduled to begin on Tuesday.
The Hanoi Securities Trading Centre said more than 3,200 investors, including 75 institutions, had registered to bid for the shares. The company's stock is being traded in the unofficial market at around 120,000 dong ($7.4).
The share sale is part of the firm's plan to issue more than 35 million shares to boost finances before a domestic listing later this year, company officials have said.
PVI, which raised nearly $117 million by selling 23 percent of its shares in an initial public offering in January, has applied to list on the Hanoi exchange, Chairman Le Van Hung told state media last week.
Last year, PVI had an 18.09 percent share of Vietnam's non-life insurance market, making it the third biggest after state-run Bao Viet, which had a 34.94 percent share, and Bao Minh with 21.29 percent, industry reports said.
PVI said its audited net profit jumped 51.7 percent last year from 2005 to 44 billion dong following a 65.6-percent surge in insurance premiums to 1.16 trillion dong ($72 million).
Since the start of this year, PVI has been expanding from its core insurance business, investing in areas such as crude oil production, banking, stock broking and cement production.
PVI and Petrovietnam have become founding members of a company building several hydro-power plants in Laos.
PVI said its revenues soared 165 percent in the first four months of 2007 from a year earlier to more than 750 billion dong ($46.6 million).
Source: Reuters
The insurer said in a statement seen on Monday it had set a starting price for bidding at 50,000 dong ($3.1) a share for the auction scheduled to begin on Tuesday.
The Hanoi Securities Trading Centre said more than 3,200 investors, including 75 institutions, had registered to bid for the shares. The company's stock is being traded in the unofficial market at around 120,000 dong ($7.4).
The share sale is part of the firm's plan to issue more than 35 million shares to boost finances before a domestic listing later this year, company officials have said.
PVI, which raised nearly $117 million by selling 23 percent of its shares in an initial public offering in January, has applied to list on the Hanoi exchange, Chairman Le Van Hung told state media last week.
Last year, PVI had an 18.09 percent share of Vietnam's non-life insurance market, making it the third biggest after state-run Bao Viet, which had a 34.94 percent share, and Bao Minh with 21.29 percent, industry reports said.
PVI said its audited net profit jumped 51.7 percent last year from 2005 to 44 billion dong following a 65.6-percent surge in insurance premiums to 1.16 trillion dong ($72 million).
Since the start of this year, PVI has been expanding from its core insurance business, investing in areas such as crude oil production, banking, stock broking and cement production.
PVI and Petrovietnam have become founding members of a company building several hydro-power plants in Laos.
PVI said its revenues soared 165 percent in the first four months of 2007 from a year earlier to more than 750 billion dong ($46.6 million).
Source: Reuters
Tuesday, June 19, 2007
Securities broker Haseco to raise $22 mln in share issue
Vietnam securities brokerage Haseco (HPC) said on Tuesday it aimed to raise up to 350 billion dong ($22 million) by selling 14.25 million new shares next month.
Haseco, which has a chartered capital of 50 billion dong, would sell 5 million of the shares to existing shareholders at the share's face value of 10,000 dong, Chairman Vu Duong Hien said in a statement.
Another 5 million shares would be sold to strategic investors at a price not lower than 86,000 dong per share.
Staff of the Haiphong-based brokerage will be entitled to buy 250,000 shares at a price not higher than those sold to strategic investors.
The timing of the sale of the remaining 4 million shares would be decided later depending on market demand, Hien said.
Haseco shares ended 0.85% down on Tuesday at 156,500 dong ($9.7) on the Hanoi OTC market, valuing the firm at $48.5 million.
Source: Reuters
Haseco, which has a chartered capital of 50 billion dong, would sell 5 million of the shares to existing shareholders at the share's face value of 10,000 dong, Chairman Vu Duong Hien said in a statement.
Another 5 million shares would be sold to strategic investors at a price not lower than 86,000 dong per share.
Staff of the Haiphong-based brokerage will be entitled to buy 250,000 shares at a price not higher than those sold to strategic investors.
The timing of the sale of the remaining 4 million shares would be decided later depending on market demand, Hien said.
Haseco shares ended 0.85% down on Tuesday at 156,500 dong ($9.7) on the Hanoi OTC market, valuing the firm at $48.5 million.
Source: Reuters
Vietnam Development Bank sells 15-yr bond at 8%
State-run Vietnam Development Bank has sold 500 billion dong ($31 million) in 15-year bonds at a yield of 8%, the over-the-counter Hanoi stock market said on Tuesday.
A statement from the exchange said the bank had offered 1 billion dong in the June 2022 bonds at an auction on Monday, but only sold half the amount after two bidders had put in bids from 7.9% to 10%.
The accepted yield is 0.25 point lower than a Ho Chi Minh City 15-year urban bond sold on June 12.
The Hanoi market has said it will auction 700 million dong in 5-year State Treasury bonds on June 25.
Source: Reuters
A statement from the exchange said the bank had offered 1 billion dong in the June 2022 bonds at an auction on Monday, but only sold half the amount after two bidders had put in bids from 7.9% to 10%.
The accepted yield is 0.25 point lower than a Ho Chi Minh City 15-year urban bond sold on June 12.
The Hanoi market has said it will auction 700 million dong in 5-year State Treasury bonds on June 25.
Source: Reuters
Vietnam shrimp firm to list on main market in Q4
Minh Phu Seafood Company , Vietnam's top shrimp processor and exporter, said on Tuesday it will move its listing to the country's main exchange late this year. The Mekong Delta-based firm, 10% owned by Singapore's Temasek Holdings, would move its shares to the Ho Chi Minh Stock
Exchange in the fourth quarter, Minh Phu said in a statement via the Hanoi stock market.
It also said Singapore-based Aranda Investments Pte. Ltd., a subsidiary of Temasek, represented its parent firm to hold the 10-percent stake in Minh Phu as of June 11.
After the statement was released, Minh Phu shares, which now trade on the over-the-counter Hanoi Securities Trading Center , gained 0.87% to 57,800 dong ($3.59) at 0233 GMT on, valuing the firm at $215 million.
Source: Reuters
Exchange in the fourth quarter, Minh Phu said in a statement via the Hanoi stock market.
It also said Singapore-based Aranda Investments Pte. Ltd., a subsidiary of Temasek, represented its parent firm to hold the 10-percent stake in Minh Phu as of June 11.
After the statement was released, Minh Phu shares, which now trade on the over-the-counter Hanoi Securities Trading Center , gained 0.87% to 57,800 dong ($3.59) at 0233 GMT on, valuing the firm at $215 million.
Source: Reuters
Subscribe to:
Posts (Atom)
