Once-insolvent firms to list on UPCoM

The Debt and Asset Trading Corporation (DATC) will bring its member companies to the Ha Noi Securities Trading Centre’s new unlisted public companies market (UPCoM) under a deal inked with the centre on Tuesday.

DATC planned to facilitate the listings of about 10 companies on UPCoM, said general director Pham Thanh Quang. "These enterprises can meet the charter capital requirements to trade on UPCoM trades," he said.

Under the deal, the Ha Noi Securities Trading Centre would support the listing companies in complying with centre rules and regulations, and would give them updates on the market situation to help them determine the best time to list.

Centre director Nguyen Van Dung said the deal would help increase the investing options offered by UPCoM, as well as help speed up the process of equitising State-owned enterprises.

The enterprises affiliated with DATC are companies that were formerly insolvent but which have returned to profitability and been converted from State-owned enterprises to joint stock companies. Public trading of their shares would ensure their further stable development.

VNS

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