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The new dollar billionaire – Trinh Van Quyet.
State sells golden geese
In late August, the Prime Minister decided to continue selling the state’s stakes in the two largest breweries – Habeco and Sabeco – and in Vinamilk, the nation’s leading dairy producer.
The decision to sell shares through auctions is expected to benefit all parties, including the state, which can optimize profit from the sale, and the investors, who have more investment opportunities, as well as the companies which will see their business become more transparent.
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The best-known names in various business fields all entered the bourse in 2016. The year also saw the appearance of a new dollar billionaire – Trinh Van Quyet. |
New big players on stock market
A series of big enterprises began listing shares on the bourse in 2016. Sabeco and Habeco were the best known names. Sabeco has the share with the second largest capitalization value, just to Vinamilk.
Investors are looking forward for the list of FPT Telecom which plans to list 137 million shares and Novaland which is believed to have the largest land fund in HCMC.
Superfoods Group, which manages Highlands Coffee owned by Jollibeer and Viet Thai International, is also going to list shares on the bourse.
Meanwhile, Vietjet Air, the low-cost air carrier, is preparing for its IPO and listing, slated for February 2017.
The other big names to list shares include ACV (airport corporation), Vinatex (textile & garment), Petrolimex (petroleum distributor) and Vietnam Airlines.
Trinh Van Quyet - dollar billionaire
Quyet, whose stock assets were estimated at below VND1 trillion in the past, unexpectedly became a dollar billionaire in 2016.
Faros, the shares of a construction firm held by Quyet, saw the price escalate since it entered the bourse in September from VND10,500 per share to VND120,000.
In mid-November, when Faros price reached its peak, Quyet outstripped Pham Nhat Vuong, who headed the list of stock billionaires for the last seven years. At that time, Quyet’s assets reached VND5.4 trillion.
However, Faros shares have later decreased in price and Vuong has regained its first position in the list of richest stock billionaire.
VNX Allshare Index
There are two major indexes for the Vietnamese stock market – VN Index for the HCMC Stock Exchange and HNX Index for the Hanoi bourse. The UpCom Index is for public companies with less strict requirements.
Investors believe that Vietnam needs a common index for the whole market which fits international practice. Therefore, in 2016, VNX Allshare Index was released. It represents 400 shares in the market. VNX Allshare Index is believed to be the first step taken by SSC to implement the plan to merge the two exchanges.
A series of big enterprises began listing shares on the bourse in 2016. Sabeco and Habeco were the best known names. Sabeco has the share with the second largest capitalization value, just to Vinamilk.
Investors are looking forward for the list of FPT Telecom which plans to list 137 million shares and Novaland which is believed to have the largest land fund in HCMC.
Superfoods Group, which manages Highlands Coffee owned by Jollibeer and Viet Thai International, is also going to list shares on the bourse.
Meanwhile, Vietjet Air, the low-cost air carrier, is preparing for its IPO and listing, slated for February 2017.
The other big names to list shares include ACV (airport corporation), Vinatex (textile & garment), Petrolimex (petroleum distributor) and Vietnam Airlines.
Trinh Van Quyet - dollar billionaire
Quyet, whose stock assets were estimated at below VND1 trillion in the past, unexpectedly became a dollar billionaire in 2016.
Faros, the shares of a construction firm held by Quyet, saw the price escalate since it entered the bourse in September from VND10,500 per share to VND120,000.
In mid-November, when Faros price reached its peak, Quyet outstripped Pham Nhat Vuong, who headed the list of stock billionaires for the last seven years. At that time, Quyet’s assets reached VND5.4 trillion.
However, Faros shares have later decreased in price and Vuong has regained its first position in the list of richest stock billionaire.
VNX Allshare Index
There are two major indexes for the Vietnamese stock market – VN Index for the HCMC Stock Exchange and HNX Index for the Hanoi bourse. The UpCom Index is for public companies with less strict requirements.
Investors believe that Vietnam needs a common index for the whole market which fits international practice. Therefore, in 2016, VNX Allshare Index was released. It represents 400 shares in the market. VNX Allshare Index is believed to be the first step taken by SSC to implement the plan to merge the two exchanges.
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