Two firms to debut on Vietnam bourse next week
HANO - A food company and brick maker will debut on communist Vietnam's stock market next week, raising the number of listed companies to 32, the stock exchange said on Thursday.
Shares in Kinh Do Co, a food and confectionary maker, will start trading on Monday while Nhi Hiep Brick-Tile Co will debut on Dec. 16, the Ho Chi Minh City Securities Trading Centre said in a statement.
Kinh Do, based in Ho Chi Minh City, will list 25 million shares at 10,000 dong per share. The trading code is KDC. Nhi Hiep, based in the southern province of Binh Duong, will add nearly 1.34 million shares, to be coded NHC.
The State Securities Commission said on its Web site (www.ssc.gov.vn) that it had granted a licence to Ha Tien Transport Co to list 4.8 million shares.
Last week, the commission also issued its first licence to a foreign-invested firm, Taya Vietnam Electric Wire & Cable Co., an affiliate of Taiwan's Taya Electric Wire & Cable Group.
The two firms have yet to announce when they would debut.
A little more than five years old, the stock market remains tiny, with a capitalisation of 5.95 trillion dong ($375 million).
In March, an over-the-counter market was launched in Hanoi offering more relaxed listing requirements for smaller companies.
The government has been striving to expand its capital market to meet rising investment demand in an economy growing about 7 percent a year. Hanoi aims for annual growth of between 7.5 percent and 8 percent in the next five years ending 2010. ($1=15,862 dong)
Reuters - December 8, 2005.
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