Khong Phan Duc, general director of VietinBank Securities Joint Stock Company, sounds the gong to open trading at the Ho Chi Minh Stock Exchange on June 20. — VNS Photo

More than 90.42 million shares of VietinBank Securities Joint Stock Company were listed on June 20 on the Ho Chi Minh Stock Exchange after the company decided to move from the Ha Noi Stock Exchange (HNX).

Its reference price had been set at VND10,950 (US$0.48).

The 2017 shareholders meeting approved the plan for the move from the HNX.

Khong Phan Duc, the company’s general director, said after eight years on the HNX, the move to HOSE is meant to better protect shareholders’ benefits and improve liquidity.

Besides, the company believes that a HOSE listing would create growth momentum and enable development of its brand, he said.

Also with effect from June 20 the company changed its abbreviated name from VietinBankSc to VietinBank Securities, and its logo and colours to match those of VietinBank, its parent company.

In the first half of this year the company achieved pre-tax profit of over VND70 billion ($3.08 million). It has set itself a full-year target of VND131.88 billion, up 30 per cent from 2016.

It is set to pay a dividend of 8 per cent for 2016.

VietinBank Securities, established in 2000, has a chartered capital of over VND904 billion, among the top 10 in the industry. — VNS