Government policies stimulate share auctions

11:41 | 26/11/2015 Economy Follow Ven.vn on

(VEN) - The Hanoi Stock Exchange (HNX) organized 70 share auctions in the first 10 months of this year, a rise of 40 percent compared with 2014, through which 262 million shares worth over VND4.4 trillion were sold, providing a return of VND1.5 trillion.

Checking IPO results on HNX

In October, seven share auctions took place on the HNX, including four initial public offerings (IPOs), and three share auctions where the state pested from enterprises. Over 30 million shares were offered, while investors bid for 52.9 million shares, 76.1 percent more than the offered volume; and 21.5 million shares with total value of over VND311.5 billion were sold, providing a return of VND75.3 billion compared with the face value of the shares.

Five out of seven auctions in October were complete sell-outs. The IPO of nearly five million shares of the National Hospital of Transport attracted great attention of investors because this was the first public hospital to be reorganized to operate according to market mechanisms. Investors ordered 11.7 million shares of the hospital, 2.4 times more than those available. Shares were bought for VND23,597 per share, more than double the face value of VND10,000 per share.

In the first 10 months of this year, 70 share auctions took place on the HNX, including 51 IPOs and 19 auctions related to state pestments, with 49 share auctions and 33 IPOs selling-out, attracting the participation of many large investors, notable change compared to recent years, where mostly small-scale investors participated in share auctions on the HNX.

Decisive policies

The HNX leadership attributed these results to decisive government policies to resolve difficulties facing the equitization of state-owned enterprises (SOEs). Governmental Resolution 15/NQ-CP dated March 6, 2014 proposes measures to accelerate the equitization of SOEs and the withdrawal of state capital from SOEs. Under this resolution, SOE leaders will have to take the responsibility in cases where equitization and state pestment fail to meet their schedule; and ministers, the heads of ministerial level agencies, and chairpersons of centrally governed provinces and cities will have to take responsibility for any delays in the implementation of equitization plans.

To accelerate the equitization of SOEs, the government has allowed the sale of state stakes at prices below the face value of their shares or below the value given in SOEs’ accounting records after deducting provisions for the loss of financial investments. SOEs are also allowed to sell stakes invested in public companies that suffer losses. Equitized SOEs must complete their registration procedures within 90 days to carry out transactions on the UPCoM market. In case where they are eligible, equitized SOEs must complete the procedures to list their shares on stock exchanges within a time limit of one year.

Nine companies have registered to auction their shares on the HNX this November through eight IPOs and one auction of state capital.

Lan Ngoc

ven.vn

See more news

Q1 economic growth drivers

06:00 | 28/02/2023 Economy

(VEN) - Investment, domestic consumption and foreign trade were the three drivers of Vietnam’s economic growth in February and the first quarter of 2023. The Government, ministries, sectors and localities are taking action to promote these forces.

Viet Nam vows to enhance negotiations on UK’s joining CPTPP

14:53 | 27/02/2023 Foreign trade

Viet Nam will continue its coordination with other members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to soon conclude the negotiations on the UK’s accession to the trade pact.

Vietnam’s logistics industry looks bright despite headwinds

11:28 | 24/02/2023 Economy

Vietnam’s logistics industry remains a bright spot amidst intensifying headwinds in the global market.

Turkey natural stone trade mission to Vietnam

15:55 | 21/02/2023 Economy

A B2B event to connect trade between Turkish and Vietnamese natural stone enterprises to create opportunities for Vietnamese businesses to approach international quality supplies.

Nationwide production resumes after Tet holiday

13:00 | 21/02/2023 Economy

(VEN) - The Lunar New Year has gotten off to a good start with manufacturers resuming production in the expectations of improved performance and achievements.

VN-Index to struggle at 1,060 points due to weak demand force

07:00 | 19/02/2023 Economy

The selling pressure was quite clear in the last trading session of the week as the market’s breadth inclined to the downside.

More Vietnamese farm products exported to Europe

11:30 | 15/02/2023 Economy

The central province of Quang Tri shipped its first batch of 15 tons of organic rice at a price of US$1,800 per ton to the European Union (EU) on February 13.

PM holds roundtable discussion with Brunei energy, oil and gas firms

09:00 | 12/02/2023 Vietnam and ASEAN

Prime Minister Pham Minh Chinh held a roundtable discussion with Brunei energy and oil and gas enterprises in Bandar Seri Begawan capital on February 11, as part of his ongoing visit to Brunei.

PM urges focus on investment, export and consumption

06:00 | 10/02/2023 Policy

(VEN) - Industrial production recovered across the board throughout Vietnam last year, with processing and manufacturing growing at a rate of 8.1 percent, according to a report presented at a recent conference organized by the Ministry of Industry and Trade (MoIT) and attended by Prime Minister Pham Minh Chinh.

M&A 2023 prospects looking up

06:00 | 07/02/2023 Economy

Although the market for mergers and acquisitions (M&A) in Vietnam decelerated in 2022, many economists are looking ahead to plentiful prospects for 2023.

Latest Most Read

Kaspersky blocks close to 1M financial phishing attacks in SEA last year

08:53 | 21/03/2023 Companies

Kaspersky in 2022 has blocked a total of 822,536 financial phishing targeted at companies in Southeast Asia (SEA). From SMBs to large enterprises, financial phishers kept trying to infect businesses in the region last year.

Promising trade with South America

06:00 | 21/03/2023 Foreign trade

(VEN) - South America is a new market with great export potential, but experts warn of major trade promotion challenges.

New discoveries at the Citadel of Hồ dynasty

06:00 | 21/03/2023 Tourism

The excavation in Thanh Hóa Province also uncovered vestiges of the Royal Road within the inner city, including green stone embankments and slate paving in the middle of the South Citadel.

Herbalife sponsors the annual Glory of Vietnam Sports Event

17:23 | 20/03/2023 Companies

Herbalife Vietnam has helped the Vietnam Sports Administration (VSA) and the Vietnam Olympic Committee (VOC) to organize the Glory of Vietnam Sports Event in Hanoi, held on the occasion of the 77th Anniversary of Vietnam Sports Day and ahead of the 32nd SEA Games.

Offshore wind energy an essential base load power source: official

14:30 | 20/03/2023 Energy

Offshore wind energy has great potential to contribute to the energy security goals of Việt Nam, according to deputy head of the Party Central Committee's Economic Commission Nguyễn Đức Hiển.

Trade deal with EU a hit so far

06:00 | 07/03/2023 Vietnam and EU

(VEN) - Vietnam's exports to the EU have seen positive growth more than two years after the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020. Vietnam Economic News’ Nguyen Hoa spoke with Nguyen Anh Duong, Head of the Central Institute for Economic Management’s (CIEM) Department for General Economic Studies about these developments.

Vietnam slow to exploit Pacific Rim trade opportunities

06:00 | 09/03/2023 Vietnam and other regions

(VEN) - Vietnam is looking back at the first three years of the Pacific rim trade deal known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with a sense of accomplishment, but also frustration at unmet challenges.

Trade deal with UK bolsters Vietnamese exports

06:00 | 08/03/2023 Foreign trade

(VEN) - The United Kingdom is the world’s fourth largest importer, but Vietnam’s share accounts for less than one percent of its total import value, signaling ample room for increased Vietnamese exports to this market.

Vietnamese pomelos star in UK market

06:00 | 06/03/2023 Vietnamese Brands

(VEN) - First Dien pomelos from the northern province of Hoa Binh are now available on the shelves of Longdan supermarkets in the UK, welcomed by the Vietnamese community in the country and local consumers.

Credit crunch burdens real estate market

06:00 | 03/03/2023 Finance-Banking

(VEN) - Credit plays a major role in the recovery of the real estate market, but in light of major debts, experts are advising that capital be provided only for reliable projects.

Multimedia

Video Longform Infographic Photo

Amazingly beautiful Ninh Thuan

09:13 | 20/03/2023 Video

(VEN) - The south central coastal province of Ninh Thuan is renowned for its beautiful, pristine beaches and vast white salt fields. Visitors are recommended to travel to the province from April to June to enjoy their summer vacations, and from August to October when the grape-harvesting season falls and unique local festivals of the Cham people take place.

Tra fish exports hold promise after China reopens borders

07:00 | 20/03/2023 Infographic

Tra fish exports are expected to recover shortly with China gradually reopening its borders.

Lao Cai Province welcomes first Chinese tourists after three years

08:49 | 17/03/2023 Tourism

Eighty Chinese tourists entered Vietnam via the Lao Cai International Border Gate on March 15 afternoon, marking the return of Chinese travellers to the northern mountainous province of Lao Cai after a three-year hiatus caused by the COVID-19 pandemic.

viet nams grilled bananas among worlds most delicious desserts

Việt Nam's grilled bananas among world’s most delicious desserts

06:00 | 20/03/2023 Lifestyle

CNN described the sweet course as crispy, smoky and fragrant, and best enjoyed with lightly sweetened creamy coconut milk and roasted peanuts.

a dish to try beef ore you go buon ma thuots famous beef in tamarind sauce

A dish to try beef-ore you go, Buôn Ma Thuột's famous beef in tamarind sauce

06:00 | 18/03/2023 Lifestyle

Many restaurant owners claim that the dish's fame is due to the special marinated ingredients that can be found exclusively in this hilly part of Việt Nam.

Policy

Animal feed industry asks for import tax reduction on raw materials

09:55 | 20/03/2023 Policy

The Government has received a proposal from the Vietnam Feed Association to eliminate the import tax on soybean meal, currently set at 2%.

Over 250 petitions submitted to authorities on fragility of petroleum regulations

18:07 | 16/03/2023 Policy

The petitions concern the alteration of petroleum business restrictions in decrees No.83/2014/ND-CP and No.95/2021/NQ-CP, resulting in losses for retail establishments.

New legal documents in second half of February 2023

07:00 | 12/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Companies allowed to make bond payments with other assets

07:00 | 09/03/2023 Policy

Companies shall be allowed to make bond payments with other assets, according to the Government's recently-released Decree 08/2023/ND-CP issued.

Industry & Trade

Offshore wind energy an essential base load power source: official

14:30 | 20/03/2023 Energy

Uncorking bottlenecks for support industry development

06:00 | 18/03/2023 Industry

(VEN) - Vietnam is mulling legislation to boost the low localization rate of its industrial production and means to modernize its support industries and increase their participation in the local and foreign value chain.

Da Nang greens textile-garment industry

13:00 | 17/03/2023 Energy

(VEN) - Textile and garment enterprises in the southcentral coastal city of Da Nang are seeking to green their production through the use of renewable energy, waste reduction and wastewater standardization.

High cost of construction materials puts pressure on Việt Nam's construction industry

10:13 | 15/03/2023 Industry

According to contractors and investors in Hà Nội, while the price of cement has stabilised, other essential building materials such as steel and construction sand continue to increase in price.

Investment

Da Nang hopes for further investment from RoK city

09:13 | 17/03/2023 FDI

Secretary of the Da Nang municipal Party Committee Nguyen Van Quang said he hopes that the city of Daegu in the Republic of Korea (RoK) will cooperate with the Vietnamese central city and invest more in its hi-tech sector, along with education, training and tourism.

Initiative speeds up investment disbursement

06:00 | 14/03/2023 Domestic investment

(VEN) - Prime Minister Pham Minh Chinh has asked ministries, sectors and localities to ensure the quality and effectiveness of public investment projects and achieve a higher disbursement rate in 2023.

Hanoi builds synchronous policies to draw foreign investment

07:25 | 11/03/2023 FDI

A conference linking hundreds of Hanoi and Singaporean enterprises was held in the capital city of Hanoi on March 7. The event was co-hosted by the municipal Department of Industry and Trade, the Vietnam Trade Office in Singapore, the Singapore Chinese Chamber of Commerce and Industry (SCCCI) and the Vietnam Chamber of Commerce and Industry (VCCI).

Quang Ninh strives to complete procedures for 18 FDI projects in 2nd quarter

09:19 | 09/03/2023 FDI

The northeastern province of Quang Ninh is striving to complete investment procedures for 18 foreign direct investment (FDI) projects within the second quarter of this year.

Finance-Banking

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

(VEN) - All European Union states and many other countries will introduce a global minimum tax (GMT) of 15 percent on large corporations by the start of 2024, and Vietnam is being urged to devise appropriate policies and adapt to the new taxation.

Vietnam’s regulatory interest rates to be reduced by 0.5-1 percent

07:05 | 16/03/2023 Finance-Banking

The State Bank of Vietnam (SBV) on March 14 issued two decisions to reduce regulatory interest rates by 0.5% to 1%, which will come into force on March 15.

Global Minimum Tax a head-scratcher for Vietnamese policymakers

06:00 | 13/03/2023 Finance-Banking

As many countries plan to adopt the Global Minimum Tax Rate (GMTR) in 2024, experts are concerned that the entry into force of the rate would discourage foreign companies from locating their operations in low-tax countries.

Program seeks to solve business capital needs

13:00 | 10/03/2023 Finance-Banking

(VEN) - A series of commercial banks have moved to reduce lending interest rates in response to strong messages by the Government and the State Bank of Vietnam (SBV) about supporting the economy and business sector.

Environment

Practical effective activities urged to mark World Water Day

10:03 | 20/03/2023 Environment

The Ministry of Natural Resources and Environment has asked other ministries, agencies, sectors, localities, and organisations to take practical and effective activities to mark the World Water Day (March 22), the World Meteorological Day (March 23), and the Earth Hour 2023 (March 25).

BKEET steams ahead with waste treatment

13:00 | 15/03/2023 Make in Vietnam

(VEN) - After research spanning 20 years, solid waste incinerators produced by the Bach Khoa Hanoi Energy and Environment Joint Stock Company (BKEET) are operating across the country.

Tree planting campaign targets carbon neutrality

06:00 | 13/03/2023 Environment

(VEN) - Vietnam has embarked on a nationwide tree planting campaign designed to benefit the environment and enhance the quality of life.

Can Tho, USAID foster collaboration to mitigate climate change effects

09:00 | 11/03/2023 Environment

Leaders of the Mekong Delta city of Can Tho on March 9 had a working session with a delegation from the United States Agency for International Development (USAID) led by its Administrator Samantha Power, during which the two sides discussed collaboration in climate change response and how to support people affected by the natural phenomenon.

Science - Technology

Vietnam introduces automated sorting system

13:00 | 20/03/2023 Make in Vietnam

(VEN) - The successful design, manufacturing and operation of an automatic goods sorting system has contributed to optimizing the production process and cutting the costs of logistics enterprises. Vietnam Economic News’ Quynh Nga interviewed Dr. Phan Dang Phong, Director of the National Research Institute of Mechanical Engineering (NARIME) under the Ministry of Industry and Trade (MoIT), about this technology.

Domestic ICT firms well-positioned to reach out to the world

06:00 | 20/03/2023 Science - Technology

Vietnam's information and communication technology (ICT) companies are well-positioned to make strong breakthroughs and reach out to the world in the near future, on the back of widespread Internet access, abundant workforce and support from authorities at all levels.

Innovation platforms boosting sustainable development announced

06:00 | 18/03/2023 Science - Technology

The Institute for Innovation and Development (IID) on March 15 held a “Drive Innovation for Impact” event to announce three digital innovation platforms boosting sustainable development.

Vietnam well-positioned to benefit from AI website

06:00 | 16/03/2023 Science - Technology

Artificial intelligence (AI) is poised to revolutionise economies, and Vietnam is well-positioned to reap the benefits and emerge a leader – both development and application, highlighted an article run at intelligent global legal research platform Lexology.com.

Government policies stimulate share auctions

See also

See more news

Multimedia