Ho Chi Minh City Stock Exchange's market cap equals 57% of GDP in H1
Foreign investors remained net buyer in the January – June period with total amount of 201 million shares worth VND10.1 trillion (US$435.05 million).
Total market capitalization of the Ho Chi Minh City Stock Exchange (HoSE) reached VND3,200 trillion (US$137.8 billion) at the end of June, up 11.2% against the end of 2018 and equivalent to 57% of the country's 2018 GDP.
Illustrative photo.
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According to the HoSE, foreign investors remained net buyers in the January – June period with total amount of 201 million shares worth VND10.1 trillion (US$435.05 million).
Vietnam’s largest privately run conglomerate Vingroup topped foreign investors’ buying list, with a net purchase value of over VND5.61 trillion (US$241.65 million) in the six-month period.
South Korea’s conglomerate SK Group late in May successfully bought 205.75 million shares of Vingroup or 6.1% of the group’s charter capital in a deal worth US$1 billion to become the latter's major shareholder.
During the period, the HoSE has approved the public listing of five companies with a combined 1.9 billion shares on offer and market capitalization of over VND69.3 trillion (US$2.98 billion). Two out of these five companies are Viglacera and national flag carrier Vietnam Airlines.
Additionally, the HoSe also held auction for stake sale in two state-owned enterprises Sao Vang Rubber (SRC) and Binh Phuoc Water, raising nearly VND430 billion (US$18.52 million) in proceeds.
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