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New firms on Ha Noi Stock Exchange enjoy growth
Most of the 13 new listed companies on the Ha Noi Stock Exchange and nine new others on the HCM City Stock Exchange performed well after listing this year.
The Bank for Investment and Development of Viet Nam (BID) in HCM City had the greatest value, with 2.81 billion shares out of the total 3.17 billion new shares, accounting for five per cent of the total market capitalisation.
Apart from the firms operating in the fields of manufacturing, agricultural products, energy and finance, the market also welcomed the first domestic exchange-traded fund – the VFMVN30.
Mobile World (MWG) possibly wrote the most successful story, which featured a charter capital jump from VND627 billion to VND1.12 trillion (from US$29.86 million to $53.33 million) to in less than six months. It remains in the top 10 list of stocks in terms of market price and closed yesterday's session at VND104,000 ($4.95).
Tri Viet Management Investment is another typical example. It increased by nearly 100 per cent in price despite having been listed for only three months.
Other stocks to soar around 100 per cent since listing include Nam Dinh Foodstuff and Agricultural Products (NDF), Thong Nhat Production and Investment (GTN) and Visacom Mineral (VMI).
Many of the companies planned to issue additional shares to raise capital following their listing success. These include MWG, NDF, VMI and CEO Investment (CEO).
However, some companies did not succeed as much as their counterparts. These businesses are Bac A Metallurgy and Mineral (BAM), Petrolimex Installation No 3 (PEN), Viet Thai Electric Cable (VTH) and Ninh Binh Phosphate Fertiliser (NFC).
NFC has notably not seen any shares traded since mid-October.
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