VNDirect Securities had to pay on behalf of a foreign institutional investor, United Sustainable Asia Top-50 Fund from Singapore, to settle two stock purchases on time, Tuoi Tre has reported → view source.
The trade involved 66,300 shares of MWG worth over VND 5.2 billion (US$200,000) and 362,900 shares of MBB worth over VND 9.8 billion (US$377,000), totalling more than VND 15 billion (US$577,000).
This is the second time this has happened with Vietcap Securities covering a nearly VND 4 billion (US$154,000) trade for Aegon Custody B.V. from the Netherlands in 2024.
This follows on from changes to Vietnam’s securities regulation, specifically Circular 68, which became effective from late 2024, which removed the requirement for foreign institutional investors to prepay for share purchases.
This change was made largely to satisfy FTSE Russell requirements for an upgrade of the local bourse from frontier to an emerging market status; an upgrade, it was announced last week, would go ahead in September of next year pending a review in March.
Of note, Mobile World Group (MWG) closed Friday at VND 82,000 or US$3.15, up 0.61 percent from the previous session’s VND 81.50 or US$3.13.
The stock opened slightly lower at VND 81.40 and traded within a narrow range between VND 80.60 and VND 82.00.
Total trading volume reached 75,932 shares, equivalent to about VND 615.6 million or US$23,677.
Similarly, Military Bank (MBB) closed Friday at VND 27.45 or US$1.06, rising 0.37 percent from the previous session’s VND 27.35 or US$1.05.
The stock opened at VND 27.40 and fluctuated between VND 27.20 and VND 27.75 during the session.
Trading volume was 567,809 shares, with a total value of about VND 1.56 billion or US$60,040.