Vietnam News Network

“Listing at this time is good and it’s even luckier for the company as the local stock market rose again after experiencing some big corrections,” said Giang Trung Kien, head of research at FPT Securities Inc.

The benchmark VN Index increased 3.4 percent to 555.54, the first gain in four days. The advance extended its rally this year to 76 percent, the second-best performer in Asia after Sri Lanka. The listing of Masan boosted the number of companies on the Ho Chi Minh City Stock exchange to 181.

“The market has been experiencing corrections from time to time this month, but it is still in a long-term uptrend,” said Hoang Xuan Quyen, vice general director of Hanoi-based Tan Viet Securities Inc.

Masan Group holds 54.8 percent of Masan Food Joint-Stock Co., which makes soy and fish sauce and sells products under the “Chin-Su” and “Omachi” brands. The Ho Chi Minh City-based company also owns 20 percent of Vietnam Technological & Commercial Joint-Stock Bank, known as Techcombank.

TPG, the U.S. private-equity company, and BankInvest, a Danish investment fund, bought a $50 million stake in Masan Group late last month.