Vietnam: A public company is a joint-stock company having a contributed charter capital of at least 30 billion VND

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According to Article 32 of the Law on Securities 2019 of Vietnam, a joint-stock company will become a public company in one of the following cases:

- The company has a contributed charter capital of at least 30 billion VND and at least 10% of the voting shares are being held by at least 100 non-major shareholders;

- The company has successfully made its IPO by registration with the State Securities Commission (SSC) as prescribed by law.

The joint-stock company has a contributed charter capital of at least 30 billion VND and at least 10% of the voting shares are being held by at least 100 non-major shareholders shall submit the application for public company registration to SSC within 90 days from the day on which the requirements mentioned above are fully satisfied, specifically as follows:

- The application form;

- The company’s charter;

- The certificate of enterprise registration;

- The information disclosure statement about the public company, including summary of the company’s organizational structure, business operations, management, shareholders, assets, financial status and other information;

- The latest annual financial statement audited by an independent audit organization. In case the company’s charter capital is increased after the end of the latest fiscal year, an audited financial statement of the latest period is required;

- The list of shareholders.

Within 15 days from the receipt of the valid application from the joint-stock company mentioned above, or from the receipt of the report on completion of the offering prescribed by law, SSC shall confirm the registration of the public company, publish the company’s name, operations and other information on SSC’s media.

View more details at the Law on Securities 2019 of Vietnam, effective from January 01, 2021.

Ty Na

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