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23-04-2009, 12:12 PM #1Guest
It is now clear which companies will stay put and which will move to other bourses. Several listed companies have announced plans to move to list on other bourses since their attempts to increase chartered capital failed.
From HOSE to HASTC
Twenty-one listed companies have reportedly completed plans to move from the HCM City Stock Exchange (HOSE) to the Hanoi Securities Trading Centre (HASTC) to list as they cannot meet the requirement in terms of chartered capital to be eligible to list on HOSE.
However, according to the official announcement on HOSE’s website, to date, only Doan Xa Port Joint Stock Company (which lists 5,250,000 shares at HOSE, code DXP) has applied to move to list on HASTC.
Prior to that, the State Securities Commission stated that May 8 was the deadline for listed companies either to come up with the capital required to stay on HOSE or move to other bourses.
Regarding the administrative formalities for moving to list at HASTC, Nguyen Vu Quang Trung, Deputy Director of HASTC, said that the share items of the moved companies will keep the same transaction codes.
Trung has committed that HASTC will join forces with the Securities Depository Centre to carry out formalities in a way to minimise the time the share items’ transactions are interrupted, thus ensuring the interests of investors.
Trung said that the 21 enterprises are profitable ones; they simply do not have the required capital level to be eligible to list on HOSE.
As for companies which have the chartered capital of less than VND10bil, i.e. they are not eligible to list on HASTC, the shares of the companies will still be allowed to have shares transacted at HASTC until UpCom becomes operational.
Prior to that, HASTC’s Director Tran Van Dung said that the UpCom market will be put into official operation in June 2009.
From HASTC to HOSE
The State Securities Commission ([url="http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=SSC&q=SSC" target=_blank>SSC) said that those companies which are now listing on Hanoi bourse and do not want to change bourses, even though they have enough chartered capital to list on HOSE, will not have to move. However, local media has reported that two companies have applied to move from HASTC to HOSE: Savico (SVC) and Saigon Cable Company (View more random threads:
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