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Local brokerage promotes firms for foreign investors
Local brokerage house Bien Viet Securities has completed a list of selected firms to be included in a newly launched index system for foreign investors in Vietnamese stock markets.
The index, titled CBV International Index, includes 15 selected firms. It aims to provide up-to-date information of listed firms on both the Ho Chi Minh City and Hanoi bourses, including the foreign cap of each selected firm.
The chosen firms must have at least 50 million USD of floated market capital and current foreign ownership availability of more than 9 million USD.
The companies must also have an average trading value of at least 500,000 USD per day and a P/E (price to earnings per share) ratio lower than 25.
“The market now is going through tough times. We have tightened the criteria and number of selected firms to ensure the best selection so the index reflects the real value of each selected firm in it,” said Bien Viet Securities’ Deputy Director Vu Duc Nghia.
“With this index we now aim at foreign investment institutions as our major clients. But in the future we will expand it to individual foreign investors,” Nghia added, saying the index would be developed further with diversified criteria and the number of selected firms would also be doubled.
At present, the company has launched a total 10 indices for securities investment for both domestic and foreign investors, such as CBV-Index, CBV-Midcap, or CBV-Largecap.
VNA
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