HDBank to list on HCM stock market this week

The shares of HDBank will list on the HCM City Stock Exchange (HoSE) on January 5. (Photo: HDBank) Hanoi (VNA) – The shares of HDBank will list on the HCM City Stock Exchange(HoSE) on January 5, making it the first bank to go public in 2018.The HCM City Development Bank, as it is formally known, has received approvalfrom the southern bourse to list over 981 million shares under the HDB symbolat a reference price of 33,000 VND (1.45 USD).This is considered quite high compared to the prices of other bank shareslisted on stock markets, and is behind only Vietcombank, VPBank and ACB.The listing, which is advised by Saigon Securities Incorporation (SSI), willvalue the lender at around 32.4 trillion VND (1.43 billion USD), making it oneof the 20 biggest companies by market capitalisation on HoSE.With an allowed trading band of 20 percent on each side of the reference priceon opening day, HDB can potentially soar to 39,600 VND on listing.HDB is currently one of the most favoured stocks in the over-the-counter (OTC)market, with its price rising consistently to occasionally reach 31,000 VND.Since December 14, 2017, it has ceased to trade on the OTC to prepare for thelisting.On December 22, 2017, HDBank raised 300 million USD in an initial publicoffering (IPO) after selling around 21.5 percent of its shares at 32,000 VND basedon book building.The IPO got an overwhelming response from 76 foreign investors, who hadregistered to buy three times the number of shares on offer.Among them were Germany’s Deutsche Bank AG, Japan’s…

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