PetroVietnam Fertilizer & Chemicals Corp. plans to invest $230 million in adding and diversifying production to boost revenue as its parent considers selling shares in Vietnam’s fourth-biggest manufacturer by market value.
Bank for Investment and Development of Vietnam, the nation’s second-largest lender by assets, will begin trading on the local exchange this week as regulators seek to boost stock-market liquidity and make banks more transparent.
Military Commercial Joint-Stock Bank closed unchanged on its first day on Vietnam’s Ho Chi Minh City Stock Exchange after listing 10.07 trillion dong ($479.4 million) of shares in the nation’s biggest listing this year.
Most emerging-market stocks declined, with the benchmark index heading for the first weekly slide in a month, as Thai shares retreated amid political protests and investors weighed the outlook for U.S. stimulus. The baht fell.
The rush of foreign investors into Vietnam’s most-favored companies has exhausted the government- limited supply of shares, freezing out some as inflation slows and the economy recovers from the weakest growth since 1999.
Vietnam plans to introduce new bond instruments such as futures, related indexes and cross currency repurchase agreements to boost trading in the market, as the government ramps up debt sales to a record this year.