HoSE adds NVL to coming large-cap VN30 review

The office building of Novaland in HCM city. — VNA/VNS Photo

HÀ NỘI — The Hồ Chí Minh Stock Exchange (HoSE) has recently unveils the VN30 Index basket for July, effective from August 5, 2024 to January 24, 2025.

The roster of 30 securities in the current July VN30 remains consistent with the previous disclosure.

The banking segment continues to hold sway with 13 entities, including many that have maintained their positions within the VN30 over several periods.

In addition to the 30 official ticker symbols in the VN30 group, HoSE also released a list of stocks of five listed companies for its coming large-cap tracker review, comprising LPBank (LPB), Đức Giang Chemicals Group (DGC), EXIMBANK (EIB), Novaland (NVL) and Phú Nhuận Jewelry JSC (PNJ).

Of significance, in a shift from the previous announcement, HoSE has replaced Vietnam Maritime Commercial Join Stock Bank (MSB) with NVL in the review list.

The VN30 index cherry-picks stocks with robust market capitalisation and liquidity. Beyond the initial screening for market cap, the free-float ratio plays a pivotal role. Stocks with a free-float ratio below 5 per cent face elimination. Moreover, liquidity stands out as a vital factor in this selection process.

Even if a stock meets all the requirements, the ultimate decision rests with the HoSE council meeting.

In the lineup of five stocks for the next VN30 review, the spotlight shines on NVL due to recent developments. The presence of NVL in the reviewing list surprised as it witnessed a sharp decline in recent trading sessions, breaching one-year low.

NVL shares closed Monday at VNĐ11,000 per share. — VNS