SSC extends charter capital deadline for smaller firms.

Hanoi (VNA) - The State Securities Commission has extended the deadline for
smaller listed firms to comply with new, higher charter capital requirements.


The head of the commission's Market Development Department, Nguyen Son, said firms
would have three additional months to meet the requirements set forth in Decree
14/2007/ND-CP that companies must have at least 80 billion VND (4.8 million USD)
in order to list shares on the Ho Chi Minh Stock Exchange, and 10 billion VND
(571,428 USD) to list shares at the Hanoi Securities Trading Centre.

At present, 46 firms listed in HCM City and six listed in Hanoi have not
met the requirements.

Listed companies that could not meet the requirements by February 9 were to have
had their shares moved to a suitable bourse, but the deadline had been extended to
May, Son said.

Firms that failed to meet the capital requirements for HCM City would see
their listing moved to the Hanoi centre, while listed firms there that failed
to comply with the requirements would become part of the unlisted public
companies market, or UPCoM, expected to launch next month.

"It UPCoM has not been launched as originally planned, the Hanoi centre must warn
investors in the non-compliant companies to give them notice about the trading in
share of these firms," said Son.

The movement of listed firms from the HCM City to Hanoi bourses was aimed
to clarify the role of each market, said HCM Stock Exchange spokesman Le Hai Tra.


"The maintenance of two official bourses aims to supply investors with different
types of goods offering different levels of benefit, risk and buy-in costs,"
said Tra, "Thus, investor will have choices in making investments."-Enditem