By Thu Thuy - The Saigon Times Daily
HCMC – The Hochiminh Stock Exchange has cancelled the listing of Can Tho-based Western Commercial Bank because the bank has yet completed making its listing dossier within 90 days upon a listing decision as per regulations.
However, Nguyen Quoc Sy, deputy general director of the bank, said that the bank had earlier sent a document to the southern exchange asking for listing postponement because the bank wanted to finish raising chartered capital before trading shares on the bourse. At this time, the bank’s chartered capital is VND1 trillion.
The State Bank of Vietnam has approved Western Bank to raise capital to VND2 trillion which is expected to complete by the end of this year. The bank also plans to increase its capital to VND3 trillion between November and December.
Up to date, there have been five banks listing on stock markets. They are Saigon Thuong Tin Commercial Bank, Vietnam Export Import Commercial Bank, Vietnam Bank for Foreign Trade of Vietnam and Vietnam Bank for Industry and Trade, all trading shares on the Hochiminh Stock Exchange, and Asia Commercial Bank listing on Hanoi Stock Exchange.