The head office of the Hanoi Stock Exchange in downtown Hanoi. Photo: Reuters
The Vietnamese government has finally decided to locate the headquarter the future Vietnam Stock Exchange in the country’s capital city of Hanoi, ending discussions over the past two years, the Saigon Times Online newspaper cited sources as saying.
The decision was made at a Prime Minister Nguyen Xuan Phuc-chaired meeting in Hanoi late on October 19.
The merger of the Ho Chi Minh and Hanoi stock exchange will take place this year, in accordance with a government-approved roadmap.
Tran Van Dung, the former chairman of the Hanoi Stock Exchange (HNX
) and incumbent general director of the Ho Chi Minh Stock Exchange (HOSE
), is expected to head the upcoming merged bourse.
According to the sources, shares of listed companies as well as corporate bonds will be floated on the HOSE, which houses the largest blue-chips in the country.
Meanwhile, the HNX will operate the government-bond and derivatives markets.
Stock market regulator plans to operate a new stock index comprising shares from both HOSE and HNX, in a move to attract more overseas investors.
The index, VNX Allshare
, will debut on October 24 and include 451 stocks, accounting for 92% of the Vietnamese stock market’s total capitalization and nearly 94% of the market’s trading value.