Foreign Investors Allowed to Hold 49 per cent Stake in Vietnam Unlisted Firms
The State Securities Commission (SSC) has finished a draft regulation allowing foreign investors to own a 49 per cent stake in Vietnamese unlisted shares which will be traded on the Hanoi Securities Trading Center (HASTC), Vietnam Economic Times reported.
The proposed holding of 49 per cent, equal to the current foreign ownership in listed companies, is higher than the previously planned rate of 40 per cent.
However, the foreign stake in unlisted banks and insurance companies will be still restrained at 30 per cent as currently on the official markets.
The increase in foreign holdings in public firms is expected to help the country attract more foreign investment amid the global financial turmoil.
Earlier, the HASTC is scheduled to organize transactions for shares of publicly-owned but unlisted companies before the end of this year, which is expected to boost further transparency and liquidity of the over-the-counter shares.
Due to some preparation procedures, the HASTC-managed trading market for unlisted shares is likely not available within this year, but until early next year. (Vietnam Economic Times)
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