Saturday, October 31 2020

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LienVietPostBank to become first bank to move listing on HoSE this year

Update: October, 03/2020 - 09:06

 

LienVietPostBank has ensured the target of completing listing in 2020 and is ready to take the lead in the switch among commercial banks. — Photo courtesy of the bank

HÀ NỘI — LienVietPostBank will become the first bank to complete the transfer of its LPB shares from the unlisted Public Company Market (UPCoM) to the Hồ Chí Minh Stock Exchange (HoSE) this year, followed by ACB, VIB and SHB.

There will be a series of stock codes registering to change trading floor from UPCoM to HoSE before the effective date of the amended Law on Securities at the beginning of 2021, stemming from the requirement that a listed company must register on the trading system for unlisted securities for at least two years.

It is forecast that the number of enterprises transferring trading floors will increase by the end of the year to comply with the current regulations before the new Law on Securities takes effect.

A representative from LienVietPostBank said thanks to careful preparation and early submission of the application, the bank's documents were approved in principle by HoSE. The progress of listing LPB shares will be one to two months earlier than other banks. LienVietPostBank has ensured the target of completing the listing in 2020 and is ready to take the lead in the switch among commercial banks.

The listing of LPB shares on HoSE would not only contribute to enhancing the bank's image and brand identity, but also aim at improving investor relations and  communication. It would make LPB shares an effective capital mobilisation channel for future growth goals, and bring the shares into the portfolio of ETFs on the stock market.

LPB stock trading is much more active with an average of tens of million shares per session. There was a record trading session with nearly 17 million shares matched, and a total trading value of over VNĐ183 billion (US$7.9 million). LPB's stock price was also improved significantly when it was traded at VNĐ11,600 per share, the highest in many months. — VNS

 

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