boiman
05-01-2009, 07:11 PM
Companies with registered capital of less than VND80
billion (US$4.8 million) that are presently listed on the HCM City
Stock Exchange are required to move their listing to the Ha Noi
Securities Trading Centre as of January 1.
Under Decree 14/2007/ND-CP, all companies on the HCM
City exchange must have capital of at least VND80 billion, while those
listed on the Ha Noi bourse must have at least VND10 billion
(US$600,000).
The previous requirements were VND10 billion for HCM City and VND5 billion ($300,000) for Ha Noi.
Currently, over 40 companies on the HCM City Stock Exchange have registered capital of less than VND80 billion.
Those with registered capital of less than VND10
billion would also not qualified to list at the Ha Noi Securities
Trading Centre and have to trade on the over-the-counter (OTC) market.
State Securities Commission Chairman Vu Bang said that
the commission had reminded securities exchanges and centres to follow
the regulations.
The decree also requires securities companies to have
a registered capital of at least VND300 billion so that they can
sufficiently cover the risk of providing brokerage, underwriting and
other securities services.
Securities companies which did not meet the requirements would have their licences revoked, Bang said.
billion (US$4.8 million) that are presently listed on the HCM City
Stock Exchange are required to move their listing to the Ha Noi
Securities Trading Centre as of January 1.
Under Decree 14/2007/ND-CP, all companies on the HCM
City exchange must have capital of at least VND80 billion, while those
listed on the Ha Noi bourse must have at least VND10 billion
(US$600,000).
The previous requirements were VND10 billion for HCM City and VND5 billion ($300,000) for Ha Noi.
Currently, over 40 companies on the HCM City Stock Exchange have registered capital of less than VND80 billion.
Those with registered capital of less than VND10
billion would also not qualified to list at the Ha Noi Securities
Trading Centre and have to trade on the over-the-counter (OTC) market.
State Securities Commission Chairman Vu Bang said that
the commission had reminded securities exchanges and centres to follow
the regulations.
The decree also requires securities companies to have
a registered capital of at least VND300 billion so that they can
sufficiently cover the risk of providing brokerage, underwriting and
other securities services.
Securities companies which did not meet the requirements would have their licences revoked, Bang said.