Vietnamese Stocks - Equities in Vietnam
Vietnam Stock Exchange - The Stock Exchange for Vietnamese Stock Market
The Stock Trading Center of Vietnam (‘STC’), located in Ho Chi Minh City, was officially inaugurated on July 20, 2000, and trading commenced on July 28, 2000. Initially, two equity issues were listed, Refrigeration Electrical Engineering Joint Stock Corporation (‘REE’) and Saigon Cable and Telecommunication Material Joint Stock Company (‘SACOM’). It is the smallest stock exchange in Southeast Asia. The Vietnam stock exchange is both operated and regulated by the State Securities Commission.
As of February 2004, thirteen companies have been licensed by both the
State Securities Commission and Ho Chi Minh City Stock Trading Center. Of
these, nine have capital of VND43bn (US$2.73m) or more and have been
licensed to conduct a full range of securities business including brokerage,
advisory, fund management, proprietary trading and underwriting. Saigon
Securities Incorporation, Hai Phong Securities Joint Stock Company and EAB
Securities Company have chartered capital ranging from VND20-22bn
(US$1.27m-US$1.4m) while Mekong Securities Joint Stock Company are
capitalized at VND6bn (US$0.38m). Neither company is licensed to conduct
proprietary trading or underwriting.
Foreign ownership of shares in companies listed on the Ho Chi Minh City
Stock Trading Center is limited to 49% of the company’s issued share
capital. For bonds, foreign investors can hold 100% ownership of a
particular issuer’s bonds.
For private investors, it is necessary to fly to Ho Chi Minh City (Saigon) to open a securities account and a bank account. Foreigners are able to transfer funds out of Vietnam after fulfill tax obligations. There is no time constrain.
You may wish to contact Vietnamese stock brokerage firms on this list for more information.
Thanks for Minh Quan for the updates of the rules of Vietnam stock exchange.
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