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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: New rules, market for Vietnam unlisted firms: officials AFP - Saturday, April 18 HANOI (AFP) - - Vietnam will allow foreign investors to increase their stakes in non-listed companies and plans to set up a new trading floor for unlisted shareholding firms, officials said Friday. ADVERTISEMENT The new ruling allows foreign firms to hold up to 49 percent of non-listed shareholding firms, up from 30 percent, said Vo Van Quang, office manager at the State Securities Commission of Vietnam. Firms listed on the Hanoi and Ho Chi Minh City bourses have been allowed to hold stakes of up to 49 percent since 2005. "This decision aims to widen and encourage indirect foreign investment in the Vietnam stock market," Quang said. The directive takes effect on June 1. Vietnam also plans to launch a new trading floor in June for unlisted shareholding companies at the Hanoi Securities Trading Center, a senior government official told Dow Jones Newswires. The new market is part of government efforts to help regulate the trade in unlisted companies' shares, said the State Securities Commission official. Vietnam has more than one thousand shareholding companies but less than half of those have been listed on either the Hanoi or Ho Chi Minh City exchanges, the official said. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Zurich Financial to buy AIG US unit for $1.9BAP - Friday, April 17 Rosetta Stone shares jump in public debutAP - Friday, April 17 Oil hovers near $50 as recovery doubts lingerAP - Saturday, April 18 Survey: U.S. newspapers shed 5,900 jobs in 2008AP - Friday, April 17 Zurich to buy AIG auto unit for $1.9 billionReuters - Friday, April 17 Enlarge Photo New rules, market for Vietnam unlisted firms: officials Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed Bad mood, better recall, researchers find Police nab Norwegian pair during high-speed sex French warship detains pirates, US urges action Harry Potter actor arrested over cannabis find US economy contracts further, remains weak: Fed View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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