31 August 2007

The London Stock Exchange and the Ho Chi Minh Stock Exchange today signed a Memorandum of Understanding to formalise their existing strong ties. This morning, to mark the signing of the Memorandum, the CEO of the Ho Chi Minh Stock Exchange, Dr. Tran Dac Sinh, opened trading at the London Stock Exchange.

The agreement will provide a mechanism of long term co-operation and foster the development of channels of communication and a continuing relationship between the London Stock Exchange and the Ho Chi Minh Stock Exchange. The ties the Memorandum establishes are expected to help an increasing number of Vietnamese companies raise money on the London Stock Exchange.

Commenting on the agreement, Martin Graham, Director of Markets at the London Stock Exchange, said:

“I am delighted to sign this Memorandum with the Ho Chi Minh Stock Exchange. During the last few years, the London Stock Exchange has attracted a number of ambitious Vietnamese companies looking to expand their businesses internationally. When I visited Vietnam earlier this year I saw, at first hand, Vietnam’s great potential. I believe that this agreement can help unlock this promise, benefiting both exchanges and the Vietnamese companies we look to serve”.

Dr Tran Dac Sinh, CEO of the Ho Chi Minh Stock Exchange, said:

“This Memorandum of Understanding between the London Stock Exchange and the Ho Chi Minh Stock Exchange aims to foster closer ties between the two exchanges, paving the way for further co-operation in the future. This official, long-term commitment will allow us to strengthen our existing relationship with the London Stock Exchange for the mutual benefit of our exchanges and markets in general”.

The Ho Chi Minh Stock Exchange, previously known as The Ho Chi Minh Securities Trading Centre, was officially opened in 2000, providing Vietnam with its first stock market. Today it is home to 49 member firms and 111 listed stocks, with trading volumes totalling around USD 20 million a day.

There are currently 6 companies of Vietnamese origin quoted on the London Stock Exchange's markets, 5 of which have joined in the past 2 years.

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