VPBank Securities Falls in Trading Debut as Market Retreats

Shares of VPBank Securities JSC declined in their Thursday debut amid a broader market downturn led by losses in Vietnamese conglomerate Vingroup and its related companies.

The stock fell 9.1% to 30,800 dong per share at the close on the Ho Chi Minh City Stock Exchange today after the company listed about 1.875 billion shares at an initial price of 33,900 dong each. That gave the company, a unit of Vietnam Prosperity JSC Bank, a market value of around 57.8 trillion dong ($2.2 billion).