A trading session at SSI Securities Corp (SSI). The brokerage’s asset management arm SSIAM will launch an IPO for its second exchange-traded fund by June end. — Photo tinnhanhchungkhoan.vn HÀ NỘI — SSI Asset Management Co Ltd (SSIAM) will launch an IPO for its exchange-traded fund ETF SSIAM VN30 between May 26 and June 29. The new fund mimics the movement of the large-cap tracker VN30-Index, which contains the 30 largest stocks by market value and trading liquidity on the Hồ Chí Minh Stock Exchange (HoSE). The initial value of the fund is estimated at VNĐ50 billion (US$2.13 million). SSIAM gained approval from the State Securities Commission for the IPO on Friday. SSI Securities (SSI), Mirae Asset Vietnam Securities and BIDV Securities are the managers of the fund, while the supervisor is the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank). The ETF will be listed on HoSE following the offering. SSIAM VN30 ETF is the second fund that tracks the large-cap VN30-Index. The first is the VFMVN30 ETF managed by VietFund Management (VFM) with a total value of VNĐ6 trillion ($255.75 million). According to SSIAM, the 30 stocks in the VN30 basket account for 73.4 per cent of… Read full this story
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