UPCoM-traded firms seek ways for bourse switch

The bourse switch will allow UPCoM companies to raise capital to finance their investment projects

Bình Sơn Refining and Petrochemical files for HNX listing The company plans to list more than 3.1 billion shares on the northern stock market, representing its charter capital of VNĐ31 trillion (US$1.34 billion)

Petrol firm Petrolimex reports a loss of VNĐ1.9 trillion

In the first quarter of 2019, Petrolimex recorded revenue of nearly VNĐ42 trillion and post-tax profit of nearly VNĐ1.3 trillion.

Brokerage firm VDSC suffers loss in Q1 Rồng Việt Securities (VDSC) posted a record loss of VNĐ88.4 billion (US$3.78 million) in the first quarter of 2020 as the company suffered from proprietary trading.

Pandemic speeds up M & A deals as companies become cheap

In the first quarter of the year, Việt Nam foreign investors acquired stakes worth US$2 billion in local companies.

PVN proposes halt of petrol imports to support refineries amid tumbling domestic consumption The Việt Nam Oil and Gas Group (PVN) has asked relevant ministries to halt petrol and oil imports as domestic sales struggle due to travel restrictions to prevent the spread of COVID-19 pandemic.

Dung Quất oil refinery plans to halt production due to COVID-19 Bình Sơn Refining and Petrochemical (BSR) is planning to halt production at the Dung Quất oil refinery as demand for petroleum falls due to COVID-19.

PVN estimates billions of dollars in lost revenue as oil prices crash Petrovietnam estimated a loss worth up to US$3 billion in revenue this year if crude oil prices remained at rock-bottom levels of $30-35 per barrel as in recent days.

Market regulator agrees on financial leveraging for UPCoM stocks Margin lending may be allowed on the Unlisted Pubic Company Market (UPCoM), the State Securities Commission (SSC) vice chairman Phạm Hồng Sơn said on Wednesday.

Company profit growth to slow down in 2020: reports

Corporate earnings were forecast to slow in 2020 as the economy became more vulnerable to external factors, data firms and securities businesses forecast.