Vietinbank securities could list by end of this month

Vietnam Bank for Industry & Trade Securities Co., the brokerage unit of the country’s fourth-biggest bank by assets, expected to get approval this week to list shares on the Hanoi Stock Exchange by the end of the month.

The securities company will join Joint-Stock Commercial Bank for Foreign Trade of Vietnam and Bao Viet Insurance & Finance Group in listing shares as the benchmark VNIndex rallied almost 35 percent this year.

“We will try to list as soon as possible, pending approval from the exchange,” Nguyen Tho Phung, the brokerage’s deputy chief executive said Wednesday.

The Hanoi-based company, known as VietinBank Securities, expects approval by the end of this week, and can start trading the shares as soon as five working days after that, Phung said.

The brokerage’s parent company, known as VietinBank, will list about 121 million shares at an initial price of VND50,000 (US$2.80) each on the Ho Chi Minh Stock Exchange today, Le Duc Tho, head of the bank’s investment department, said.

thanhnien, Bloomberg

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