Please let us about conditions for listing stocks in 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.
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