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Foreign investors to hold 49 percent of public company stake
From June 1, foreign investors are allowed to hold at most 49 percent of the stake of a public joint-stock company, according to a new Government decision.
The decision, signed by the Prime Minister on April 15, made it clear that the limit is applied to foreign investors dealing shares on the stock market in Vietnam . It is not applicable to those cases subject to different rules under professional regulations or those listed in specific trade categories.
In regard to investment fund certificates of a public securities investment fund and charter capital of a public securities investment company, the same proposition (49 percent) is designated for foreign investors.
Bonds are an exception as the issuance agencies are mandated to decide on the maximal proposition for foreign investors.
Only foreign companies with securities investment licences are permitted to join in founding a securities company. Foreign investors are allowed to contribute at most 49 percent of the charter capital of a securities company.
Also, only foreign securities companies with securities fund management licences or foreign insurers are allowed to share capital or buy shares to set up a fund management company. Their shares are at most 49 percent of such a company’s charter capital.
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