Saturday, November 6, 2010

New shares debut on Hanoi bourse

The Hanoi Stock Exchange on Sept. 13 welcomed new listings by Nam Viet
Bank (NVB), IDJ International Financial Investment and Enterprise
Development Co (IDJ) and Asia Pacific Investment Co (API).


Nam Viet Bank (NVB), which became the third bank listed on the northern
bourse, issued 100 million shares, representing its entire charter
capital of 1 trillion VND (51.3 million USD). NVB closed up 8 percent
from its opening price to 11,900 VND per share (0.61 USD), with 69,700
changing hands.


This year, NVB targets earnings of
2.67 trillion VND (136.9 million USD) and a net profit of at least 350
billion VND (18 million USD). It has also set a goal of total assets
reaching 27 trillion VND (1.4 billion USD) by year's end and outstanding
loans of 17 trillion VND (871.8 million USD).


The bank also plans to increase its charter capital to 3 trillion VND (153.8 million USD).


IDJ, which operates in the fields of infrastructure and real estate
development, was founded in 2007 with domestic individuals contributing
about 90 percent of its charter capital.


This year,
it targets earnings of 550 billion VND (28.2 million USD) and a net
profit of 75 billion VND (3.8 million USD). It has also set plans in
place to increase its charter capital to 400 billion VND (20.5 million
USD)


IDJ shares closed down 12.5 percent on their
opening day to 17,500 VND (0.90 USD) per share, with nearly 1.1 million
traded.


Real estate developer API, established in
2007 with a charter capital of 264 billion VND (8.4 million USD), has
been listed on the unlisted public companies market (UPCoM) since
October of last year.


It moved its listing to the
primary exchange, and saw its shares plunge by 10 percent from their
opening price to a close of 15,500 VND (0.79 USD) per share. API shares
generated a volume of 273,500 on their opening day.


API has targeted earnings of 200 billion VND (10.3 million USD) this year and a profit of 50 billion VND (2.6 million USD)./.

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