Northern Bourse Welcomes First Two Securities Firms

SSI, Haseco and BVSC have increased the total market capitalization of the northern exchange to over VND8.7 trillion.(Photo:TK)

Saigon Securities Incorporation (SSI) and Hai Phong Securities Joint Stock Company (Haseco) were listed on the Ha Noi Securities Trading Centre yesterday, becoming the first two stockbroking firms to be listed in Viet Nam.

Ho Chi Minh City-based SSI is the country’s leading stockbroking outfit and has more than 2,400 shareholders including foreign individuals and institutions. The company aims to triple its present charter capital of VND500 billion (US$31 million) by 2009.

Its debut in Ha Noi makes SSI the 28th company whose shares trade both on an exchange and over the counter.

Its fellow newcomer, Haseco, started life in 2003 and is the only securities firm in the northern port city of Hai Phong. The company aims to quadruple its present charter capital of VND50 billion by 2008.

Haseco’s 5 million shares trade under the symbol HPC.

The same day, a subsidiary of the Educational Publishing House, the Textbook Printing Joint Stock Company in Hanoi, had 1.2 million shares listed on the Hanoi bourse.

The three newcomers have increased the total market capitalization of the northern exchange to over VND8.7 trillion.

A third stockbroker, Bao Viet Securities with charter capital of VND150 billion, is scheduled to list all its 15 million shares on the Ha Noi exchange on Monday.

By H.M – Translated by Trong Khuong

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