VietInbank Securities shares rise on debut on Hanoi bourse
Vietnam Bank for Industry & Trade Securities Co., the brokerage unit of the nation’s fourth-biggest bank by assets, rose on its trading debut on the Hanoi Stock Exchange Friday.
The stock closed at VND31,600, valuing the company at VND2.5 trillion (US$$140 million), according to data compiled by Bloomberg.
The brokerage traded at VND28,500 in the so-called over-the-counter market on Wednesday, according to FPT Securities Inc. There are no initial prices or any daily fluctuation limit for first-day stocks on the Hanoi exchange.
“The company listed at a relatively favorable time,” said Phung Trung Kien, head of research at APEC Securities. VietinBank Securities also has the “advantage” of being backed by a major bank, he said.
Hanoi-based VietinBank Securities raised VND200.6 billion selling about 19.19 million shares at an average price of VND10,455 each in an initial public offering on April 22.
thanhnien, bloomberg
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