On August 3rd 2012, Vietnam National Oil and Gas Group organized the “Launch of the PVN-Index”. By this event, the PVN-Index has officially been launched to reveal the situation of stock price and measuring the business performance of enterprises in oil and gas sector.
Mr. Vu Bang, Chairman of State Securities Committee of Vietnam made a speech in the event
Participants include Mr. Vu Bang, Chairman of State Securities Committee of Vietnam, Deputy General Directors of PVN: Nguyen Tien Dung, Le Minh Hong, Nguyen Xuan Son, representatives from Ministry of Finance, representatives from Ministry of Industry and Trade and many representatives from PVN subsidiaries.
At present, PVN has 32 subsidiaries publicizing their stocks on stock exchange, making up 14.3% of total capitalization of Viet Nam's stock market. In order to create a fully informed channel and transparency for business performance and attract investment in oil and gas enterprises, PVN implemented the establishment of the PVN-Index and assigned Petrovietnam Securities Incorporated (PSI) as the key manager for implementing.
PVN Deputy General Director Nguyen Tien Dung made a presentation on the PVN-Index
Representatives cut the tape to launch the PVN-Index.
The index includes three main groups, including representative indices, tradable or investable indices and sector indices. The representative indices contain all companies that have listed and registered shares on the HCM City Stock Exchange, Ha Noi Stock Exchange and the UPCoM.
Investable indices, in particular the PVN10, comprise of the 10 biggest shares in the capitalization value, adjusted by number of freely traded shares (free-float market capitalisation) and liquidity.
The sector indices include six sectors classified by the international ICB (Industry Classification Benchmark) standard developed by FTSE – in the UK. This standard is being widely applied for many sector indices in the world.
All indices in 3 above-mentioned groups are calculated by two methods: price index and total return index for two different types of investors. In addition, PVN-Index is also converted into 4 common currencies including USD, EUR, JPY and VND, with a view to create favorable condition for foreign investors to define the accurate profit.
PVN-Index is the stock index meeting international standards such as: (i) being calculated by the end of day and real time; (ii) being calculated by the total return and price return; (iii) being converted into popular currencies; (iv) having the adjustment so that each share will not take more than 15% of each index – in order to reduce the exceeding effect of strong stock; (v) shares meeting standards of market capitalization, liquidity.
PVN-Index is prepared and managed by the Index Board including members who are senior and prestigious experts in oil and gas sector as well as in domestic and foreign economic, financial and securities sectors.
PVN-Index is widely promoted on the website PVNINDEX.VN (in Vietnamese and English) and financial information channel of Bloomberg as well as domestic financial information channel.
Awarding memorial medal and flowers to members of Index Board.
Awarding memorial medal and flowers to PVN subsidiaries participating in the PVN-Index.