Vietnam Top Stock Broker Plans Singapore Listing in 2008
Saigon Securities Incorporation (SSI), Vietnam’s leading brokerage in which ANZ holds a 10 per cent stake, plans to list its shares in Singapore next year, Labor newspaper said.
"SSI expects to become the first Vietnamese company to list on Singapore bourse in 2008," said SSI Chairman Nguyen Duy Hung.
The company aims to be listed among top 100 financial groups in Asia in the near term, with a focus on securities brokerage, asset management and investment bank, Hung noted.
Currently, SSI holds 30 per cent of brokerage market share and manages about 70 per cent of accounts of foreign investors opened in Vietnam. SSI shares account for over 60 per cent of the total listed shares on Ho Chi Minh bourse.
It reported net profits of VND805.5 billion ($50 million) in the first ten months, nearly six folds more than that of the whole last year, on revenues of VND1.13 trillion. (Labor, Securities Investment)
Vietnamese
