The HCM City Stock Exchange (HOSE) has completed procedures to bring 20 companies which have the chartered capital of less than 80 billion dong and are listing at HOSE to list at the Hanoi Stock Exchange (HNX). Only one enterprise plans to ‘evacuate’ Hanoi for HCM City.


The State Securities Commission has sent a dispatch, requesting that listed enterprises which have the chartered capital of less than 80 billion dong either increase chartered capital to be eligible to stay on the HCM City bourse, or shift to list on the Hanoi bourse or UpCom, the market for unlisted public companies, prior to August 8, 2009.


The securities commission has also asked the companies which have the chartered capital of 80 billion dong and more and are listing on the Hanoi bourse to shift to list on the HCM City bourse.


There are some 40 companies which have the chartered capital of less than 80 billion dong now listing at HOSE. To date, HOSE has fulfilled necessary procedures for the departure of 20 companies. One company has seen its listing cancelled and currently has no plan to shift to another bourse, the Bach Tuyet Cotton Company. Meanwhile, the BInh Trieu Mechanics and Construction Company (BTC) has shifted to list on UpCom. The other 20 companies have plans to increase capital.


There is only one company which is now listing on Hanoi bourse and planning to leave Hanoi for HCM City, the Saigon Cable Company (CSG). There are some 10 companies which do not have the 10 billion dong in chartered capital to be eligible to list on the Hanoi bourse.


The State Securities Commission has urged listed companies to quickly fulfill the process of shifting bourses, stressing that it is an important step to classify enterprises in accordance with the standards set for every market, and to restructure the stock market. HCM City bourse will become the bourse which gathers the share items of big corporations; therefore, it sets higher requirements for listing shares.


VietNamNet, VnMedia