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Home / Economy / Banking & Finance
Vietnam’s banks rush with listing plans
​Linh Mai 12:51, 2018/04/28
After years of delays, many commercial banks have so far announced to speed up their listing plans to capitalize on the improvement of the stock market.
OCB will trade its shares on the Ho Chi Minh Stock Exchange (HOSE) in Q3 or Q4, meaning it will skip listing on the market for unlisted public companies (UPCoM) as earlier planned. This plan was approved by the bank’s shareholders at a meeting on March 28.
 
OCB will list on the Ho Chi Minh Stock Exchange in Q3 or Q4
OCB will list on the Ho Chi Minh Stock Exchange in Q3 or Q4
As market conditions have improved this year, OCB chairman Trinh Van Tuan said that the listing will benefit shareholders, investors and OCB. “Therefore, OCB has decided to execute the plan one year earlier than planned,” he said.
According to VIB chairman Dang Khac Vy, VIB, whose shares are currently being traded on Unlisted Public Company Market (UPCoM), is also planning to move to HOSE this year. Listing on the southern bourse will make the bank more transparent to investors and help improve the value of VIB shares.
TPBank will become the second bank after HDBank to get listed this year. It will issue 555 million shares on HOSE on April 19 at a starting price of VND32,000 per share.
Techcombank’s shareholders have also approved a plan for the bank to list on HOSE this year.
Having traded its shares on UPCoM since last October, LienVietPostBank is working on a plan to move to the bourse in HCM City by 2020.
According to market watchers, those banks accelerating their listing plans on HOSE want to ride on the current positive momentum of the stock market. The VN Index rises have propped up bank shares.
An executive of a bank which is going to list said bad debt is not as high as before thanks to new policy on settlement of bad debt. Overall, banks have been performing well in the past one year, fuelling bank share prices, he added.
The macro economy has been more stable, credit has improved and the stock market has fared better, thus creating a good opportunity for banks to attract capital from investors, particularly those from abroad.
In fact, foreign investors have spent hundreds of millions of US dollars buying shares of banks in the country in recent times. For instance, HDBank sold 21.5 percent of its shares to 76 foreign investors late last year at a total value of over $300 million. Meanwhile, two separate legal entities managed by Warburg Pincus, a leading global private equity firm, will invest over $370 million into Techcombank.
According to OCB, it will sell shares to foreign partners before listing late this year. Foreign shareholder BNP Paribas early this year offloaded its entire stake of 18.68 percent in OCB.
Foreign investors currently hold 4.98 percent of OCB’s charter capital, meaning there remains big room for foreign investors to buy into OCB. Tuan of OCB said the bank is holding talks with potential strategic investors.
Statistics from the State Bank of Vietnam (SBV) showed that among 31 joint stock commercial banks, 16 are listed in the country’s three bourses of HOSE, Hanoi Stock Exchange (HNX) and UPCoM.
Of which, HOSE has stock codes of such joint stock commercial banks as CTG (VietinBank), VCB (Vietcombank), BID (BIDV), MBB (Military Bank), EIB (Eximbank), STB (Saigon Thuong Tin Bank), HDBank (Ho Chi Minh City Housing Development Bank), and VPBank (Vietnam Prosperity Bank).
HNX has stock codes of such banks as ACB (Asia Commercial Bank), SHB (Saigon Hanoi Commercial Bank), and NVB (National Citizen Commercial Bank).
UPCoM has stock codes of such banks as VIB (Vietnam International Commercial Bank), LBP (LienVietPostBank), KLB (Kien Long Commercial Bank) and BAB (Bac A Commercial Bank).
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