Brokers to Help Build Market for Public Firms in Vietnam

Securities companies serving the over-the-counter market will establish a cooperative working system under the Hanoi Securities Trading Center (HASTC), aiming at boosting the effectiveness of investments in the trading market for public companies (UpCoM market) in Vietnam, the state-owned Securities Investment newspaper said.

 

The center said greater cooperation among securities firms would help provide customers with more effective services, while minimizing the risks related to trading in unlisted shares.

 

Leading stock brokers expected to join the UpCoM market include SME Securities, Saigon Securities Inc and FPT Securities. They are expected to support each other in professional skills and solving problems happened during the trading process.

 

The operation of the market under the tightened control of the HASTC is expected to create more transparency and liquidity for unlisted shares, which will help protect investors.

 

However, the Ministry of Finance has still not decided the permitted foreign ownership in unlisted shares, so the UpCoM market’s operation may be delayed until next year. (Securities Investment, VNS)