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Stock exchange brings in modest capital for H1
The local stock exchange mobilised a total capital of 5 trillion VND (303.03 million USD) from 41 public offerings in the first six months of the year, according to the State Securities Commission’s Securities Offering Management Department.
Processing and production industries saw the most offerings at 13. The trade and services sector followed along with the construction and property sector, each seeing 11 offerings.
Listed firms on both the HCM City Stock Exchange and Hanoi Securities Trading Centre accounted for 48.1 percent of the total figure. In comparison with 2007’s data, those figures are modest.
A commission official, who wished to remain anonimous, said that the stock market has been rough this year, certainly impacting its members.
“Since early this year, firms delayed many public offerings to overcome hard times. This led to modest mobilisation in the first six months. However, the delay helped equitised firms avoid loss. When the market gets better, mobilisation will be higher,” the official said.
According to the commission, 15 enterprises made initial public offerings during the first six months, posting a total revenue of 6.03 trillion VND (365.63 million USD).
Despite the relatively low results in this period, the securities market was considered a promising investment, securities analysts said.
“We saw investors get back into the stock market recently. They became more active as the market changed,” said Nguyen Tien Dung, an independent securities analyst.
Furthermore, market attendants, including market regulators and listed firms, were trying to bring stability to the market. All these things combined should signal a rally by the end of this year.
VNA
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