Vietnam's Habubank shares dip on Hanoi bourse debut

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Shares of Vietnam's Habubank, 10 percent owned by Deutsche Bank, fell to below their face value on Tuesday as the lender debuted on the Hanoi Stock Exchange.

Shares stood at 9,800 dong at 0313 GMT on Tuesday, up from the day's low of VND9,200 after sinking from VND11,500 at the opening bell, Reuters data show. Face value is VND10,000.

The index on the Hanoi exchange stood 99.56 point at 0316 GMT, having fallen nearly 41 percent so far this year.

Habubank's share price represented a fall of more than 18 percent from VND12,000 per share when it was last traded on the unofficial, unregulated markets, according to the lender's Chairman Nguyen Van Bang.

Habubank, or the Hanoi Building Commercial Joint Stock Bank, listed all its 300 million shares representing its registered capital of 3 trillion dong, the exchange has said.

The lender is the 16th largest in term of assets among Vietnam's nearly 40 partly private banks.

Shares in Vietnam can be traded on the unofficial markets long before they make their debut on the main exchange in Ho Chi Minh City or the Hanoi market.

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