Bnews Many banks whose stocks are trading on HNX and UpCOM plan to switch to HoSE in 2020.
According to the arrangement schedule of Vietnam Stock Exchange, it is expected that the stock market will be transferred to HoSE for management, while the HNX will manage the bond market and create a derivatives market. This has led many banks having stocks on HNX and UpCOM to plan to switch to HoSE in 2020.
Over the weekend, the General Meeting of Shareholders of Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) agreed through the transfer of LPB shares from the trading system for unlisted securities (UpCOM) to the Stock Exchange. Stock contract. HCM (HoSE).
According to LienVietPostbank, the plan has been finalized, selected a consultant and will be implemented according to the approval schedule of the competent state management agency. It is expected that the listing of LPB shares on HoSE will be completed before December 31, 2020 according to the approval of the general meeting of shareholders.
Previously, the General Meeting of Shareholders of Asia Commercial Joint Stock Bank (ACB) in 2020 also agreed to approve the transfer of listing registration of all bank shares from Hanoi Stock Exchange (HNX) to HoSE. At the same time, authorizing the Board of Directors to decide the time of implementation and complete the procedures related to the transfer of listing registration with the state management agencies according to the provisions of law.
According to ACB leaders, the transfer of listing listing may bring some benefits such as ACB shares, which are likely to enter the HoSE index basket with a significant proportion like VN30 (about 4%); VNDIAMOND (10%); VNFINSELECT (12%): VNFINLEAD (12%)
Therefore, it can help increase the market value of ACB shares and bring benefits to shareholders. Besides, the VN-Index is highly representative for the stock market and is often used by investment funds as a reference to measure investment efficiency.
The General Meeting of Shareholders in 2020 of Saigon – Hanoi Commercial Joint Stock Bank (SHB) also approved the transfer of listing registration of SHB shares of the bank from HNX to HoSE.
In the submission to the General Meeting of Shareholders, SHB stated that this plan is to implement the Government’s policy on restructuring Vietnam’s stock market. At the same time, promoting SHB’s image to foreign strategic investors who are reputable large economic organizations, enhance SHB’s position in the stock market.
Shareholders also agreed to assign the Bank’s Board of Directors to decide the time of listing listing transfer, to select consultancy units to provide consultancy on the listing registration transfer; Deciding the foreign investors’ ownership / bank charter capital in accordance with the actual situation, ensuring the legitimate interests of SHB and shareholders. Along with that, complete the records and procedures related to the above contents in accordance with the current law.
In addition to the above banks, it is expected that at the Annual General Meeting of Shareholders of Vietnam International Commercial Joint Stock Bank (VIB) will also submit to the meeting through the listing transfer from UpCOM to HoSE this year.
Currently in the banking system, there are 18 banks bringing stocks to the stock market. In particular, 10 stocks listed on HoSE (VCB, CTG, BID, TCB, MBB, HDB, TPB, VPB, EIB, STB); 3 stocks listed on HNX (ACB, SHB, NVB) and 5 shares on UpCOM (LPB, VIB, VBB, BAB, KLB).
In addition, under the Restructuring Plan of the stock market and the insurance market until 2020, with a vision to 2025, all commercial banks must be listed and registered for transactions on the official market. This regulation limits the implementation time to the end of 2020, forcing many banks such as Nam A Commercial Joint Stock Bank, Orient Commercial Joint Stock Bank, Vietnam Maritime Commercial Joint Stock Bank to promote listing plan this year.
According to experts, the fact that some banks plan to prepare for listing and transfer to HoSE this year will help banks to raise capital more easily through the stock market. In particular, when listed, banks will attract more attention from investors, especially professional financial investors. This will be a plus point for the development and brand of banks in the coming time.