Shattering benchmarks and shaping one of Southeast Asia’s most dynamic markets, BSC (BIDV Securities Company) has been instrumental in empowering Vietnamese businesses. The oldest and largest stock broker in the country, BSC successfully prepared and carried out a number of major IPOs such as the $245m stock placement for Binh Son Refining and Petrochemical which was concluded in January.
The much-anticipated IPO brought 7.79% of the company’s capital into public ownership with foreign investors picking up about half the shares offered. Attesting to the strength of BSC, the IPO was oversubscribed 2.7 times and raised almost $100m more than expected. Leveraging the buoyancy of the country’s stock market, the Vietnamese government has embarked on a sustained drive to engage private investors by opening up state-owned corporations to private ownership. The resulting buzz amongst local and overseas investors has led to a marked increase in business at BSC which is one of only a select few Vietnamese brokerages able to bring in outside capital. Thanks to its strong execution and peerless analysis of the local business environment, the firm has earned the trust of foreign investors.
BSC has now been a market clearing member of Vietnamese derivatives market and will shortly offer covered warrants as well. The firm has invested significant resources in its IT backbone with a view to further expanding the range of its services.
The CFI.co judging panel has followed developments at BSC for a number of years. The judges note that the firm has consistently managed to anticipate trends as one of the world’s most exciting markets opens up. The judges agree to declare BSC (BIDV Securities Company) winner of the 2018 Best Securities Broker Vietnam Award.