More than 500 Businesses Register as Public Companies

Total 502 businesses have registered for public companies as of June 29, one day before the registration deadline, said the State Securities Commission.

 

Public companies are defined ones that have listed or offered shares to 100 outside investors and minimum registered capital of VND10 billion.

 

There were 190 companies registering for public status within last week, added to 312 companies sending their application before June 22.

 

The new applicants include big names as EAB Bank with registered capital of VND1.4 trillion, Southern Bank with VND1.3 trillion, Habubank with VND1.3 trillion, Central Hydropower Plant with VND1.2 trillion, HANAKA Group Joint Stock Company with VND1.1 trillion, PTSC with VND1 trillion and some other companies as Ha Tien Cement Co, Maritime Bank, SCB Bank, Southern Hydropower Co and Dong Tam Co.

 

Earlier, the State bank of Vietnam, or the central bank, has asked commercial banks eligible for public companies to make their registration for public status.

 

Under the Securities Law, effective from January 1, 2007, public companies will be fined if they do not register with the State Securities Commission before June 30. (Vietnam Economic Times)