Some Vietnamese companies are expected to launch their initial public offerings (IPOs) on Vietnamese stock market, helping to double the total face value of shares to over 503.1 million U.S. dollars, local media reported on Tuesday.

The IPOs, together with additional share offerings by existing listed firms in July, are set to increase the face value of shares at the Ho Chi Minh City Securities Trading Center this month to eight trillion Vietnamese dong (VND) or over 503.1 million U.S. dollars, local newspaper Vietnam News said.

Saigon Thuong Tin Joint Stock Bank (Sacombank) is set to go public on July 12, becoming the first bank in Vietnam to list shares on the bourse. It will float a large number of shares estimated at nearly 1.899 trillion VND (over 119.4 million dollars) in face value.

Binh Minh Plastic Company next week launches its IPOs of 11 million shares. Four other IPOs expected this month are launched by sea transportation company Vinafco, pharmaceutical company InmexPharm, petroleum company Comeco, and enamel tile company Chang Yil, with total share offers reaching 153 billion VND (over 9.6 million dollars).

Besides, some already listed firms are expected to issue additional shares this month. Refrigeration company REE will issue 10 million shares, while woodwork company Savimex and fisheries export and import company Agifish are set to issue two million and 3.5 million shares respectively.

Now, Vietnam has 38 kinds of listed shares, 367 kinds of listed bonds, mostly government bonds, and 1 listed investment fund, with combined face value of 56,842 billion VND (over 3.57 billion dollars).

Source: Xinhua