Via The Wall Street Journal, news that the Ho Chi Minh Stock Exchange is planning to add more than 20 listings in the first quarter, in line with government efforts to attract foreign investors.  As the article notes:

“…The HOSE will add 10 new listings in January, and the other companies will follow after they complete procedures,” Deputy Director Le Hai Tra said. “Expanding the market is the key measure to attract new investors.”

New listings in January will include Lam Son Sugar Corp., Bourbon Sugar Co., Truong Thanh Furniture Corp. and Dien Quang Lamp Co.

The exchange has 141 listings, comprising 138 company stocks and three fund certificates, with a total market capitalization of 365.7 trillion dong ($23 billion) up from 150 trillion dong a year ago. The government has a policy of selling stakes in state-owned companies, which produces most of the market’s new listings.

Vietnam’s main stock index rose 23% last year, after soaring 145% in 2006.

Mr. Tra said authorities will encourage more institutional investors, domestic and foreign, to enter the market this year as a way of boosting the buy side.

An official with the State Securities Commission said adding listings will help draw in foreign investors because many blue-chip companies on the exchange have already sold 49% of their shares to foreigners, leaving no room for new foreign buyers. Vietnam has a 49% limit on foreign ownership of listed companies and a 30% cap for listed banks…”