A press conference has been held by the State Securities Commission (SSC)in
Hanoi today, announcing the opening of Hanoi Securities Trading Centre (HSTC) and auctions of equitised enterprises’ shares.
Standing vice Chair of the SSC, Vu Bang chaired the press. Attendants were representatives from MoF’s functional departments, agencies under SSC, Association of Securities Trading, central and local mass media and press agencies.
The HSTC will be officially launched in the morning of 8 March 2005. In afternoon of the same day, the Centre will conduct auction shares for the Posts Equipment Factory’s, and on 10 March 2005 to conduct auction for the Vinh Son-Song Hinh Hydropower Plant at three locations being HSTC, HCM Securities Trading Centre (HSTC) and Vinh Son-Song Hinh Hydropower Plant. Up to now, preparation for the opening ceremony has been completed. HSTC has coordinated with HSTC and securities agent companies to announce information on these auctions on the mass media and started to receive registrations, deposits and request for attending auctions from investors in Hanoi and HCM City.
According to the plan, HSTC is built and developed following two stages. At stage I (from 2005 to 2007 or 2008), the centre will focus on conducting auctions for equitised SOEs’ IPO shares; conducting auctions for government bonds, local government bonds, project bonds and enterprises bonds; organising transaction of non-listed securities. At stage II (as from 2007 or 2008), the centre will develop to an OTC that is in line with the development scale of Hanoi securities market.