Vietnam Raises US$5.625Bln from Stock Market This Year

State Securities Commission said Vietnamese companies have mobilized VND90 trillion (US$5.625 billion) via share and convertible bond issues in its official market, accounting for 39.4 per cent of the country’s GDP.

 

As many as 179 companies issued 2.46 billion new shares valued at VND48 trillion (US$3 billion), 25 folds higher than last year, SSC said, it auctioned 3.468 million convertible bonds worth VND3.75 trillion for three commercial joint stock banks, 25 million fund certificates totaling VND250 billion for Manulife.

 

Vu Bang the chairman of SSC said SSC will take measures to maintain sustainable development of the market next year by tightening supervision to ensure transparency and strictly fine any violators in addition to boosting privatization of state-owned enterprises.

 

SSC will stimulate the supply and demand to boost the market capitalization to 50 per cent-60 per cent of the GDP by then, Bang said.

 

Traders said a huge amount of shares have pulled down the Vietnam stock index in the recent weeks around the 900 benchmark.

 

The number of accounts opened by foreign investors has reached 7,500, rising three folds over that in 2006. (Vneconomy, VNA)