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Investors rush to collect shares in new stock market investment wave
Other shares have had sharper increases in prices. Thaco shares of Truong Hai Automobile, for example, are now traded at VND90,000-100,000 per share, while SCSC, Vidipha, Thibidi, Bidiphar, Petrolimex and VTPO are at VND20,000-50,000.
Some other shares have been offered at prices between hundreds of thousands of dong and VND2-3 million, such as VNG, Vexere, Topica, Foody, MoMo and Tiki.
The official bourse is also bustling. Blue chips have seen prices escalating steadily, including Vinamilk (VNM), The Gioi Di Dong (MWG) and Vingroup (VIC). Binh Minh Plastics shares (BMP) has for the first time exceeded the VND200,000 per share threshold.
A big change in policy has made this the right time for investors to inject money into shares.
The VN Index has nearly hit the 700 point threshold, and analysts believe it would conquer a new peak in some days.
Also on the stock market, there is a race to collect shares of Sabeco, amid the news that it is going to list its shares on HOSE, slated for the first quarter of 2017.
Just within one month, Sabeco’s share price increased by 30-35 percent, exceeding the VND110,000 per share threshold.
A securities expert told VietNamNet that a fund with the asset of $70 billion is considering pouring big amount of money, about 5 percent of the amount, into the Vietnamese market after witnessing successes gained by a series of foreign funds.
Also according to the expert, the fund’s representative has met with big conglomerates such as Vinamilk, REE (Refrigeration Engineering Enterprise), FPT, the largest Vietnamese information technology firm, and others which are going to list their shares at stock exchanges, such as Sabeco.
Truong Minh Tuan from VN Direct Securities said that it was now the ‘turning point’ for the Vietnamese market, as the new policy from state management agencies aims to improve market liquidity.
“Circular 115 has been applauded as the best move so far taken by the Ministry of Finance. This is a breakthrough that helps Vietnam approach regional and world market standards,” he said.
The core point of the circular is that after the IPO, business shares will be put into transactions immediately, with no need to wait or undergo other complicated procedures.
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