According to the Hanoi Stock Exchange (HNX), which controls the UpCom trading floor, more than 50 businesses have registered on UpCom in the last two months.

Techcombank has announced the Securities Depository Center has accepted concentrated transactions of 887.8 million Techcombank shares (TCB) on UpCom. 

VIB Bank has also announced it is about to list 564.4 million shares on UpCom next month after it gets the trading code. 

Prior to that, Kienlongbank, OCB, VPBank and Maritime Bank announced plans to list their shares on UpCom. 

Meanwhile, HDBank and Nam A Bank plan to list shares on HOSE (the HCMC Stock Exchange). However, all of them have delayed the listing plan, saying that market conditions are not good enough for the listing. 

Many banks see share prices being traded at below the face value of VND10,000 per share.

Two banks have received approval to place their shares into transactions on UpCom market, while other banks will follow as requested by the watchdog agency.

At the 2016 shareholders’ meeting, Ngo Chi Dung, president of VPBank said VPBank was following necessary procedures to list shares and it was waiting for the guide from SSC.

Tien Phong quoted ABBank’s CEO Cu Anh Tuan as saying that the bank is following necessary procedures to list shares on UpCom.

The government and State Bank have many times urged banks to put their shares into transactions on the market. In the newly released Decree 145, the government stipulates that enterprises will be imposed the fine of VND10-400 million if they don’t list shares.

Dau Tu reported that OCB Bank’s shareholders have decided to list on HOSE. Explaining the decision, OCB’s managers said the listing on HOSE will help the bank shares have higher liquidity.

Other banks have said they are considering listing shares on either the HCMC bourse (HOSE) or Hanoi bourse (HNX), instead of UpCom. 

Analysts say banks cannot delay their listing plans any longer. Circular 180 released by the Ministry of Finance says that public companies which do not have their shares listed on the bourse must register trading of their shares on UpCom no later than December 31, 2016.

Bank share prices are going the opposite direction on OTC and official bourses. While banks shares see busy trading on OTC,  prices are decreasing on official bourses.

SHB share closing price on December 15 was VND4,700 per share, a decrease of VND1,700 compared with earlier this year. 

BID earlier this year was traded at VND20,200 per share, but now is at VND15,000 only.