BVS: Explanation for 10 consecutive session ceiling hitting

On 22/08/2008, Bao Viet Securities Company explained the stock ceiling hitting for 10 consecutive sessions from 11/08/2008 to 22/08/2008 as follows:

-   In recent time, with the positive macro economic development and support from the authorities, Vietnamese securities market is better with strong increase in stock prices. On this trend, the price of the company’s stock (BVS) has been hitting ceiling for 10 consecutive sessions.

-    The company’s operation is better. Increasing trading volume makes the brokerage revenue increase considerably. In July 2008 only, the brokerage revenue increased 126.1% over that of June.  Especially, many consulting contracts have been signed, carried out favorably with the revenue of 135.5% against the plan.

-     Other activities of the company are happening in a normal way. As stock prices increase, the possible contingency of stock deduction rate has been reducing.

HaSTC

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