Decision No. 169/QD-TTg stipulates the conversion of Industrial Light Construction Company No. 2 into Industrial Construction Joint Stock Company, with the ratio of state-owned shares and employee shares in the enterprise. This decision takes effect from the date of signing.
Scope of application
Industrial Light Construction Company No. 2, Vietnam Industrial Construction Corporation, Ministry of Industry, Board of Directors of Industrial Construction Joint Stock Company, General Director of Industrial Light Construction Company No. 2.
Key points
- Industrial Light Construction Company No. 2 is converted into a joint stock company with a charter capital of 13,500,000,000 VND, of which the state holds 10%, employees 70%, and external investors 20%.
- The actual value of Industrial Light Construction Company No. 2 as of December 31, 2000, is 52,155,546,566 VND, of which the state's capital portion is 10,786,685,734 VND.
- Employees are given preferential treatment to purchase shares with a total of 7,298 shares sold at a preferential price, the preferential value amounting to 218,940,000 VND.
- Industrial Construction Joint Stock Company has its headquarters at 146 Nguyen Cong Tru Street, District 1, Ho Chi Minh City, and engages in business activities as prescribed by current laws.
- Industrial Construction Joint Stock Company becomes a legal entity under Vietnamese law from the date of registration for business operation.
🌐 Social impact of this document
- Positive impact: Shareholding reform helps improve management efficiency and operations of the enterprise, enhancing competitiveness in the market.
- Negative impact: It may cause difficulties in the transition process for employees and related parties.
❓ Frequently asked questions
What is the charter capital of Industrial Construction Joint Stock Company?
The charter capital of Industrial Construction Joint Stock Company is 13,500,000,000 VND.
What is the ratio of state-owned shares and employee shares in the enterprise?
The ratio of state-owned shares is 10%, and the ratio of shares sold to employees within the enterprise is 70%.
What is the actual value of Industrial Light Construction Company No. 2 as of December 31, 2000?
The actual value of Industrial Light Construction Company No. 2 as of December 31, 2000, is 52,155,546,566 VND.
What is the preferential value for employees purchasing shares?
Employees are given preferential treatment to purchase shares with a total of 7,298 shares sold at a preferential price, the preferential value amounting to 218,940,000 VND.
What is the full name of Industrial Construction Joint Stock Company?
The full name of Industrial Construction Joint Stock Company is Industrial Construction Joint Stock Company.
Full text
Pursuant to …;
Regarding the transformation of Industrial Light Construction Company No. 2 into an Industrial Construction Joint Stock Company
________________________
PRIME MINISTER
Pursuant to the Law on Organization of the Government dated December 25, 2001;
Pursuant to Decree No. 44/1998/NĐ-CP dated June 29, 1998 of the Government on the transformation of state-owned enterprises into joint stock companies;
Based on the proposal of the Minister of Industry in Document No. 327/CV-TCKT dated January 25, 2002,
DECISION:
Article 1. Approves the plan for the transformation of the state-owned enterprise Industrial Light Construction Company No. 2, an independent accounting unit under Vietnam Industrial Construction Corporation under the Ministry of Industry, as follows:
1. The charter capital of the joint stock company is 13,500,000,000 VND. Among which: - State share ratio: 10% of the charter capital. - Share ratio sold to employees within the enterprise: 70% of the charter capital. - Share ratio sold to external investors: 20% of the charter capital.
2. The actual value of Industrial Light Construction Company No. 2 as of December 31, 2000 is 52,155,546,566 VND, of which the actual value of the state's capital at the enterprise is 10,786,685,734 VND.
3. Employee preference: The total number of shares sold at a preferential price to employees within the enterprise is 7,298 shares; the amount of the preferential value is 218,940,000 VND.
The use of proceeds from the sale of state-owned shares, repayment of the state budget after selling shares, and financial treatment for the enterprise when implementing the transformation into a joint stock company must comply strictly with current laws.
Article 2. Transform Industrial Light Construction Company No. 2, an independent accounting unit under Vietnam Industrial Construction Corporation under the Ministry of Industry, into a joint stock company:
- Full name in Vietnamese: Industrial Construction Joint Stock Company; - Trading name: DESCON; - International trading name: INDUSTRY CONSTRUCTION CORPORATION; - Headquarters: 146 Nguyen Cong Tru Street, District 1, Ho Chi Minh City.
Article 3. The Industrial Construction Joint Stock Company operates in industries as prescribed by current laws.
Article 4. The Industrial Construction Joint Stock Company:
- Is a legal entity under Vietnamese law from the date of issuance of business registration, operating according to the business license, implementing an independent economic accounting system, having its own seal, opening bank accounts as prescribed by law, and operating according to the Articles of Association of the Joint Stock Company and the Enterprise Law.
- The General Director and Chief Accountant of Industrial Light Construction Company No. 2 are responsible for managing and operating the enterprise until the entire enterprise is handed over to the Board of Directors and General Director of the Industrial Construction Joint Stock Company.
Article 5. This Decision takes effect from the date of signature. Previous Decisions contrary to this Decision are abolished. The Minister of Industry, the Board of Directors of Vietnam Industrial Construction Corporation, the General Director of Industrial Light Construction Company No. 2, and the Board of Directors of the Industrial Construction Joint Stock Company are responsible for implementing this Decision./.
DEPUTY PRIME MINISTER
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