Conditions for listing stocks in Vietnam
Stock Exchange Center?
On 19 January 2007, the Government issued
Decree No.14/2007/ND-CP providing for detailed implementation of the Law on
Securities (the “Decree”). According to the Decree, conditions for
listing stocks in Stock Exchange Center regulated as follows:
(i) Being a
joint stock company with contributed charter capital of at least VND80 billion
at the time of application for the listing;
(ii) Having
conducted business operations with profits in two consecutive years preceding
the year of application for the listing;
(iii) Having no
overdue-debt; publicizing all debts of the members of Board of Directors,
Control Board, Director or General Director, Deputy Director or Deputy General
Director, chief accountant, major shareholder and relevant individuals to the
company;
(iv) At least 20
per cent of the voting shares of the company are held by at least 100
shareholders;
(v)
Shareholders being members of the Board of Directors, Control Board, Director
or General Director, Deputy Director or Deputy General Director, chief
accountant of the company have to commit to hold 100 per cent of the stocks
they are owning for at least six months after the listing date and 50 per cent
of such volume of stocks for the following six months;
(vi) Having
proper application dossier for listing shares under Clause 2, Article 10 of
this Decree.
