Commercial banks have six months to fulfill procedures to list their shares on the bourse, as requested by the prime minister.
Listing shares on the bourse is a must for commercial banks as stipulated in the plan to restructure the stock and insurance markets by 2020.
The strategy on developing the banking sector by 2025 states that commercial banks must fulfill their listing by the end of 2020.
The plans aim to increase the amount of goods for the stock market and improve transparency in banks’ operation. This also helps protect the benefits of investors and shareholders.
At the annual shareholders’ meeting held some days ago, SeABank’s plan to list shares at the HCM City Stock Exchange (HOSE) in 2020 was approved.
For the time being, SeABank will authorise the board of management to consider and decide the registration to list shares on UpCom if necessary.
OCB is also planning to list shares at HOSE this year. To prepare for this, since 2019, the bank has conducted private offerings to its partners. After negotiations, which lasted many months, OCB signed an agreement on stock sale with the Japanese Aozora Bank.
Though the plan to merge with HDBank remains open, the shareholders of PG Bank decided to approve the plan to put its shares in transactions on UpCom.
As for Nam A Bank, the board of management said it has submitted a dossier to the Vietnam Securities Depository centre (VSD), following necessary procedures to list shares.
The board of management of the bank is going to submit the plan to list shares at HOSE by December 2020 at the latest, at the shareholders’ meeting to be held in some days.
Meanwhile, other banks have decided to move their shares to new ‘homes’.
ACB’s shareholders have approved the plan to move to HOSE in 2020.
“This would help increase the value of the share market and bring bigger benefits to shareholders as the VN Index represents the Vietnam’s stock market and it is used by investment funds as reference when measuring investment efficiency,” a senior executive of the bank said.
VIB also plans to move from UpCom to HOSE this year, after it fulfills the capital increase plan with bonus shares.
VIB shares are always among the most wanted shares over the last few years. However, they are absent in the investment portfolios of many large institutions and funds just because they are listed on UpCom. That is why VIB maf such a decision.
SHB has also decided to move from the Hanoi Stock Exchange to HOSE and LienVietPost Bank from UpCom to HOSE.
