Last updated: 15:57 - July 12, 2006
Hanoi stock exchange vows rapid growth http://www.nhandan.com.vn/english/business/120706/business_hanoi.htm
The Hanoi Securities Transaction Centre (HSTC) has unveiled a big expansion plan rather than simply holding auctions for unlisted shares.
The plan will allow the Hanoi securities centre to deal with Government bonds and shares of joint-stock companies unqualified for listing on the floor of its opposite number in Ho Chi Minh City.
Nguyen Thi Lien Hoa, Head of the Market Development Department under the State Securities Commission (SSC), announced the plan at a workshop on July 10 to review the HSTC's one-year operations. She said the HSTC will also launch a distance transactions project, which will remove representative agencies operating on the stock market floor and allow computers to take in transaction orders from securities companies.
HSTC will soon turn from State-run profit-making administrative agency into a limited liability company, and finally into a joint-stock company under SSC management.
During its first year in operation, which began on June 30, 2005, the HSTC conducted 154 sessions of transactions with an average revenue of VND 15 billion for each session. Twelve companies have registered to trade in shares worth a total of VND 4.94 trillion on the floor of the Hanoi bourse. The market value of those shares rose to VND 11.744 trillion, by June 30, 2006, equivalent to 1.95% of the gross domestic product in 2005. (VNA) -------------------------------------------------------------------- © All rights, including design and copyright are owned by NhanDan Online.We hope to receive your opinions and for advertisement, please contact: toasoan at nhandan.org.vn