More than 1.1 billion shares of the Viet Nam Technological and Commercial Joint Stock Bank (Techcombank) were officially listed on the HCM City Stock Exchange on June 4.

The shares, coded TCB, were traded on the first day at a starting price of VND128,000 (US$5.62) per share.

At the price, the bank was valued at VND149 trillion ($6.5 billion), making it Viet Nam’s second-biggest listed bank after State-owned Vietcombank at VND192 trillion ($8.4 billion).

Techcombank commits to pursue a strategy of sustainable development, bringing practical benefits to investors and contributing to the growth of the Vietnamese stock market, the bank’s chairman Ho Hung Anh said at the listing ceremony.

Tran Anh Dao, deputy general director of the HCM City Stock Exchange, said that Techcombank’s share listing marks an important phase of development, which helps promote the bank’s image and prestige and facilitate its capital mobilisation for business and investment.

She said that HOSE expects the bank to continue seriously complying with regulations in the securities sector so that the bank could maintain its position on the stock market.

Last year, Techcombank earned a consolidated pre-tax profit of more than VND8 trillion ($353.9 million), doubling the previous year’s figure. Its total asset reached VND269.3 trillion. – VNS