Bank shares hot in informal market trades
Eximbank share price on the informal market last week saw a sharp increase to reach 1.6 million dong a share from 1.35 million dong a share after the Dau Tu Chung Khoan released the news that Vietnam Import-Export Bank or Eximbank collected more 101.4 billion dong from the financially crippled state firm Viet Ha Co Ltd
On August 8, Saigon Thuong Tin Bank or Sacombank officially inked the strategic cooperation contract with ANZ which bought 10% of Sacombank shares at the price of 34,000 dong a share. However, according to informal market investors, there was nothing new in this news and it is not the main reason that led an increase in the Sacombank share price last week. Moreover, the latest information regarding business performance and listing plan of Sacombank has yet to be announced, thus, the fact that share price of this bank increased from 23,000 dong a share to 25,000 dong a share last week is mainly attributed to the increase in Eximbank share price.
Similarly, shares of ACB Bank are being offered at a sky-high price of 5.7-5.8 million dong a share for the one million dong par shares. However, not many ACB Bank shares changed hands last week because many investors predicted that the price would continue rising.
Shares of Dong A commercial joint stock bank and Military joint stock bank recorded a slight increase but very few transactions were made. VPBank shares underwent a large deal at the price of 1.45 million dong a share, up from the price of 1.35 million dong a share in July.
Shares of Maritime Bank and Saigon Housing Development Bank stood at 1.2 million dong a share few investors showed any interest.
In the first half of August, shares of pharmacy firms and consumer producers were inclined to increase again. For instance, Vinamilk shares climbed to 300,000 dong a share from 285,000 dong a share. Hau Giang pharmacy shares resumed its price of 248,000-250,000 dong a share. Transactions of reducing-liquidity shares of Can Don hydroelectricity, Tuong An cooking oil, Tay Ninh-based Nui Ba cable firms were very few.
After the official document 238/UBCK-QLPH issued by the State Securities Commission or SSC to instruct foreign-invested firms listing shares after transforming to shareholding companies, Hanoi investors showed keen interest in Taya Cable and Wire Co’s shares however supply of Taya shares reduced in HCM City. At present, Taya shares are offered at the price of 22,500-23,500 dong a share.
Following the fact that investors had misgivings about the auction of 51% state equity in Thu Duc Vegetable Oil Co or Vinadaco on May 31 and the extraordinary meeting of shareholders on July 9, the Dau Tu Chung Khoan had an interview with Vinadaco board of directors who confirmed that shareholders approved the new board of directors according to the company charter. There is some difference in opinion attributed to the disagreement amongst shareholders at the share auction last May, said Vinadaco director Nguyen Van Tai. Even, he had to attend the auction and buy at a high price to keep him from being shunted aside by new shareholders, Tai explained. In the coming time, Vinadaco plans to launch new kinds of new products because it anticipates that Vietnam’s joining the Asian Free Trade Agreement might push cooking oil producers which depend on unprocessed vegetable oil imports into difficulties.
According to the observers in HCM City, the informal share market is becoming more hectic and there is now more diversified paper to trade. This signified by more active trading by the big players such as VF1 fund, Sacombank, and Prudential, and some securities firms.
