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OTC market bustling again as listed market recovers
The strong recovery of the listed market has made the OTC market warm up with a lot of successful transactions these days.
The trading floor of Indochina Securities Company on Nguyen Cong Tru street in District 1, HCM City is always very bustling in the afternoon with OTC share transactions.
Last Friday was one of the busier days on the trading floor. A woman with a mobile phone in hand entered the floor and declared loudly: “MB wanted, 231 (VND23,100/share)”.
No one replied to the woman, because they were busy with their own affairs. The share item the woman was seeking was Military Bank shares. Suddenly, a man with a big bag appeared and responded to the woman just as loudly: “MB available, 231”. That woman and another immediately approached the man, and each of them bought 10,000 shares.
Some minutes later, a young man, soaking wet from the rain, came in and asked two women sitting and working with calculators about MB prices. Without raising her head, one of the two women said: “233”. The young man tried to bargain, but he finally agreed to buy 10,000 shares of MB at VND23,300/share.
A securities broker on the trading floor said: “Investors need to pay the security money of VND20mil before negotiations. If they do not fulfill the deals after negotiations, they lose the security money. The minimum volume of shares in every transaction is 5,000.”
The share items which are the main commodities now on the OTC market are the shares of banks, insurers and consumer product companies. A broker said that he had not seen such bustling transactions as the last several days for a long time.
Truong Duy Khiem, Head of the Brokerage Division under ACB Securities Company, said that the demand for OTC shares has been increasing in recent days.
While waiting for the Hanoi Securities Trading Centre (HASTC) to put the OTC market under control, securities companies are building up their OTC trading floors.
Several companies have built up lists of OTC shares for investors to transact. The OTC trading floor of ACB Securities, for example, has 14 share items put into transactions, including shares of Eximbank, EAB Bank, Dinh Vu Steel, PNJ.
The prices of several OTC share items have increased again. On August 25, the prices of Eximbank shares were VND28,500-29,500/share, up by VND3-4,000/share compared to one week ago. MB prices have soared to VND24,200-25,200/share (+ 3-4,000/share), while PNB of Phuong Nam Bank to VND14-15,000/share (+ VND1,000/share), and Vietcombank to VND48-50,000/share (+ 4-5,000/share).
Nguyen Mien Tuan, General Director of Rong Viet Securities Company, said that the optimistic information about the national economy has helped recover the listed market, thus bringing about the bounce back of the OTC market.
According to Sacombank Securities, shares of Dinh Vu Steel, VP Bank, MB Bank, Eximbank, Bao Viet and PetroVietnam Finance Company are the most popular items. HAGL has also been attracting investors on the news that the company is going to list on the official bourse.
VNN
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