Under Decree 84, provisions on public companies, credit institutions, fund management companies (including foreign-invested fund management companies and branches of foreign fund management companies) and foreign organisations issuing securities in Viet Nam have been substantially amended and supplemented. A public company (excluding companies which have already issued securities to the public or have been listed on the Stock Exchange) shall have to conduct the procedures for suspending its public status within thirty (30) days from the date that it no longer has at least one hundred (100) investors owning its stocks.
With regards to credit institutions, Decree 84 permits credit institutions in the form of joint stock company to list their stocks if approved by the State Bank.
For all types of fund management companies, the charter capital has been set at VND25 billion (US$1.3 million).
Decree 84 also permits foreign organisations to issue securities and be listed on the Vietnamese stock market if they have already approved investment projects in Viet Nam and satisfy other conditions provided by law.
(Source: VNS)