Decision No. 528/QD-TTg Regarding the Approval of the List of Joint Stock Companies to be Listed for Public Auction, Listing, and Trading at Securities Exchanges in Vietnam

Pursuant to …;

Regarding the approval of the list of companies to be listed for public auction of shares, listing, and registration of trading at Vietnamese securities exchanges. Pursuant to Decree No. 199/2004/ND-CP dated December 3, 2004, promulgating the Financial Management Regulations for State-owned Enterprises and the Management of State Capital Invested in Other Enterprises. Approve the list of companies undergoing shareholding reform to sell state shares, initial public offerings, listing, and registration of trading at securities exchanges as attached in the appendix.

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PRIME MINISTER

Pursuant to the Law on Organization of the Government dated December 25, 2001;

Pursuant to the Enterprise Law dated June 12, 1999;

Pursuant to the State Enterprise Law dated November 26, 2003;

Pursuant to Decree No. 187/2004/NĐ-CP dated November 16, 2004 of the Government on the conversion of state-owned companies into joint-stock companies;

Direct the ministries, provincial people's committees under the central government, and state-owned holding corporations to coordinate with the Ministry of Finance to implement the following tasks effectively:

At the proposal of the Minister of Finance,

DECISION:

Article 1. 1. Based on the criteria and classification lists of state-owned enterprises as stipulated in Decision No. 155/2004/QD-TTg dated August 24, 2004, issued by the Prime Minister regarding the criteria and classification lists of state-owned enterprises and independent accounting member companies under state-owned holding corporations, and the business situation of joint-stock companies, decide to sell off state shares in these companies.

Article 2. 2. Direct state-owned enterprises to carry out shareholding reforms and initial public offerings at securities exchanges in accordance with state regulations.

3. Exercise controlling shareholder rights to decide on listing and registration of trading at securities exchanges for joint-stock companies where the state currently holds more than 50% of the charter capital. 4. Quarterly prepare plans concerning enterprises selling off state shares, initial public offerings, listing, and registration of trading at securities exchanges, and report.

Direct the Ministry of Finance:

1. To take the lead and coordinate with ministries, provincial people's committees under the central government, and state-owned holding corporations to organize and implement the sale of state shares in enterprises, initial public offerings during shareholding reforms, and listing and registration of trading at securities exchanges.

2. To guide the conditions and procedures for linking the shareholding reform of state-owned enterprises with their listing and registration of trading at securities exchanges.

Article 3. 3. To guide tax incentives for enterprises registering for trading at the Hanoi Securities Exchange equivalent to those for enterprises listed at the Ho Chi Minh City Securities Exchange.

4. To direct the State Securities Commission and securities exchanges to organize public auctions of shares, listings, and registrations of trading effectively and strictly in accordance with regulations.

5. To guide, inspect, and supervise the activities of financial organizations to fulfill their advisory, valuation, and auction functions for shares on the securities market.

6. To cooperate with relevant agencies to organize training, dissemination, and extensive publicity of Decree No. 187/2004/ND-CP dated November 16, 2004, of the Government on converting state-owned enterprises into joint-stock companies and other related securities and securities market documents. Bear responsibility for continuous monitoring to promptly provide guidance to resolve difficulties and challenges in advising, valuing, and auctioning shares during the shareholding reform of state-owned enterprises.

7. To guide and inspect the use of funds obtained through shareholding reforms to invest in the development of production by state-owned enterprises in accordance with current laws.

Ministers, heads of ministerial-level agencies, heads of government-affiliated agencies, chairpersons of provincial people's committees under the central government, boards of directors of state-owned holding corporations, and general managers of state-owned enterprises are responsible for implementing this Decision./.

6. Coordinate with relevant agencies to organize training, dissemination, and extensive publicity of Government Decree No. 187/2004/NĐ-CP dated November 16, 2004 on converting state-owned enterprises into joint-stock companies, and other related securities and stock market documents. Be responsible for continuously monitoring to promptly guide the resolution of difficulties and obstacles in advisory services, valuation, and auction processes during the shareholding transformation of state-owned enterprises.

7. Guide and inspect the use of funds obtained through shareholding transformation for investment in production development of state-owned enterprises in accordance with current laws.

Article 4. This Decision shall take effect from the date of signing.

The Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of provincial and centrally-administered city People's Committees, State-Owned Enterprise Holding Company Councils, and Directors of state-owned enterprises are responsible for implementing this Decision./.