return icon Vietnamnet.vn

UPCoM-traded firms seek ways for bourse switch

Unlisted public companies are planning to move to the Ho Chi Minh and Ha Noi stock exchanges to increase share liquidity and capital.

 

 

The Deo Ca Tunnel connects the two provinces of Phu Yen and Khanh Hoa in the central region of Viet Nam. The project investor Deo Ca Traffic Infrastructure Investment JSC (UPCoM: HHV) is planning to move shares from the Unlisted Public Company Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE) in June 2021. — Photo deoca.vn

 

Deo Ca Traffic Infrastructure Investment JSC (UPCoM: HHV) will propose shareholders approve a plan to cancel trading on the Unlisted Public Company Market (UPCoM) to list on the Ho Chi Minh Stock Exchange (HoSE) in June 2021.

The company is trading more than 227 million shares on UPCoM. The switch will allow the company to raise capital, thus funding its infrastructure investment projects.

Deo Ca Traffic Infrastructure Investment is the investor of many build-operate-transfer (BOT) projects such as Bac Giang-Lang Son Highway, Deo Ca Tunnel and Phuoc Tuong-Phu Gia Tunnel. In 2020, the company will need VND730 billion to invest in the two former projects.

In 2019, the company earned VND477 billion (US$20.5 million) and VND155 billion in total revenue and profit, respectively. Earnings targets for 2020 are expected at VND1.7 trillion worth of revenue and VND185 billion worth of profit, up 260 per cent and 19 per cent on-year.

Equitised Binh Son Refining and Petrochemical JSC (UPCoM: BSR) has filed to list its 3.1 billion shares on the Ha Noi Stock Exchange (HNX). The filing has been received.

The listing will make BSR shares more liquid, allowing the Government to proceed with its divestment plan, according to the board of directors.

Ending the first quarter, BSR posted a record loss of VND2.35 trillion. The company targets a total output of 5.56 million tonnes of products for 2020; a total revenue of VND80.68 trillion and a total post-tax profit of VND1.18 trillion.

The post-tax profit for the whole year is expected to drop nearly 60 per cent on-year as crude prices are expected to trade at $60 a barrel on average this year. Earnings targets can be adjusted upon the movement of oil prices.

Other popular names that are considering a bourse switch included industrial park developer Nam Tan Uyen JSC (NTC) and some lenders like VietBank (VBB), LienVietPostBank (LPB) and KienLongBank (KLB).

UPCoM is seen as a transit station to encourage unlisted companies to trade their shares on the Vietnamese equity market. This is also the secondary option for those that are removed from the two stock exchanges to keep their shares liquidating.

Information and earnings quality standards on UPCoM are often lower than the two exchanges, so the majority of stocks are not as attractive to investors. Therefore, the market liquidity is lower than that of the two exchanges.

On Monday, the market index UPCOM dropped 0.73 per cent to end at 55.54 points with nearly 41.5 million shares being traded, worth VND439 billion.

Trading volume and value of the HNX were double UPCoM’s while those of the HoSE were 17 and 52 times higher, respectively.

If those firms are qualified for HoSE and HNX listing, it means they are able to meet stricter requirements set by the two exchanges, thus allowing shares to be more active to benefit shareholders and investors. — VNS

Market regulator agrees on financial leveraging for UPCoM stocks

Market regulator agrees on financial leveraging for UPCoM stocks

Margin lending may be allowed on the Unlisted Pubic Company Market (UPCoM), the State Securities Commission (SSC) vice chairman Pham Hong Son said on Wednesday.  

Foreign investors buy net $2 million on UPCoM in January

Foreign investors buy net $2 million on UPCoM in January

Foreign investors in January bought a total net value of VND46 billion (nearly US$2 million) worth of shares on the Unlisted Public Company Market (UPCoM).  

MORE NEWS

Curbing inflation: the optimal goal of monetary and fiscal policies

Monetary and fiscal policies have been tightened to fight inflation in Vietnam (though it is among the lowest in the world), instead of aiming to recover production and boost growth, which is needed after several years of pandemic.

Businesses seek capital as banks run out of ‘credit quota’

Businesses in many fields have voiced their concerns about the lack of capital from banks.

Businesses complain about customs procedures, import taxes

Businesses still must visit ministries in Hanoi to complete paperwork, which they consider a big waste of time and money. They are also concerned about high import taxes.

Vietnam contributes to International Law Commission

Vietnamese Ambassador Nguyen Hong Thao has pledged to make more contributions to the progress and development of international law, for peace, friendship, cooperation and sustainable development worldwide.

Pencak silat fighter enjoys golden year

Pencak silat fighter Quang Thi Thu Nghia has had amazing year of competition when she has won titles from all competitions that she took part in.

Pop singer to compete at MTV Europe Music Awards

Pop singer Pham Dinh Thai Ngan from HCM City will represent Vietnam at the MTV Europe Music Awards (MTV EMA) 2022.

PM hosts national committee on digital transformation’s third session

Prime Minister Pham Minh Chinh chaired the third meeting of the National Committee on Digital Transformation on August 8 to assess digital transformation pace during the first half of 2022 and devise tasks for the time ahead.

Liem to face off against chess king Carlsen at FTX Crypto Cup

Vietnam’s leading chess player Le Quang Liem has revealed that he will take on Norwegian chess king Magnus Carlsen at the FTX Crypto Cup which is scheduled to take place in Miami, USA, from August 15 to August 21.

Vietnam ranks third overall at ASEAN Para Games 2022

Vietnamese athletes bagged seven more gold medals on August 5, the last competition day of the ASEAN Para Games 2022, retaining their third place in the medal tally.

Corporate bond market struggling with challenges

The size of the corporate bond market is estimated at some VND1,374 trillion, equivalent to 15% of GDP. The Government aims to raise this figure to 20% by 2025.

President requires greater efforts to promote value of Ngoc Linh ginseng

Ngoc Linh ginseng deserves the "National treasure" title, and it is necessary to strongly promote the role of this treasure in improving people's livelihoods, President Nguyen Xuan Phuc said .

EVFTA outpaces CPTPP in preference utilisation rate

The utilisation rate of tax incentives set out in the EU-Vietnam Free Trade Agreement (EVFTA) during Q1 soared by over 32%, representing a four-fold rise compared to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Refusal to issue visas to new VN passport causes problems for travel firms

The rejection of Vietnam’s new passport by some EU member countries is affecting HCM City tourism companies since their customers are unable to travel to those countries.

Vietnam set to scrap COVID quarantine for imported processed seafood

The Ministry of Agriculture and Rural Development has removed COVID-related quarantine requirements for frozen processed seafood products imported for the purpose of reprocessing for export.

HCM City seeks to boost technology transfer from universities

Huynh Kim Tuoc, managing director of Sai Gon Innovation Hub's (SiHub) Start-up Support Centre under the HCM City Department of Science and Technology, affirmed Vietnam holds tremendous potential for technology development
back_to_top