kieudiemvje
22-01-2010, 02:07 PM
The State Securities Commission (SSC) is working with the Ministry of Finance on guidelines for Vietnamese companies to offer securities and list overseas, Nguyen Ngoc Canh, head of the International Cooperation Department, said yesterday.
Canh confirmed the Government’s continued support of Vietnamese businesses to list overseas, at a HCM City forum about the benefits of cross listing for Vietnamese companies.
He said many companies in Viet Nam had expressed their desire to list in foreign exchanges and cited Vinamilk, which is listed at HCM City Stock Exchange, as having won approval in principle from Singapore Stock Exchange for listing.
Real estate developer Vincom Group has raised US$100 million from its first overseas issue of convertible bonds in Singapore, the first local enterprise to issue convertible bonds overseas, and the bonds were listed on the Singapore Stock Exchange.
Canh said that Vietnamese businesses generally needed better understanding about listing requirements, including information disclosure, taxation and financial reports, by foreign markets.
Listing overseas helps companies widen their capital sources for raising funds and makes their brands more popular outside Viet Nam.
Speakers from institutions including Hong Kong Exchanges and Clearing Ltd, London Stock Exchange, PLUS Markets in the UK, law firm Stephen Hardwood and the Bank of New York Mellon Corp provided information on the benefit and criteria for cross listing.
The event was organised by the Hong Kong’s Centillion Group in association with the SSC.
Canh confirmed the Government’s continued support of Vietnamese businesses to list overseas, at a HCM City forum about the benefits of cross listing for Vietnamese companies.
He said many companies in Viet Nam had expressed their desire to list in foreign exchanges and cited Vinamilk, which is listed at HCM City Stock Exchange, as having won approval in principle from Singapore Stock Exchange for listing.
Real estate developer Vincom Group has raised US$100 million from its first overseas issue of convertible bonds in Singapore, the first local enterprise to issue convertible bonds overseas, and the bonds were listed on the Singapore Stock Exchange.
Canh said that Vietnamese businesses generally needed better understanding about listing requirements, including information disclosure, taxation and financial reports, by foreign markets.
Listing overseas helps companies widen their capital sources for raising funds and makes their brands more popular outside Viet Nam.
Speakers from institutions including Hong Kong Exchanges and Clearing Ltd, London Stock Exchange, PLUS Markets in the UK, law firm Stephen Hardwood and the Bank of New York Mellon Corp provided information on the benefit and criteria for cross listing.
The event was organised by the Hong Kong’s Centillion Group in association with the SSC.