More companies lift foreign ownership limit to 100%
Three companies have opened up the foreign ownership limit to 100%, the State Securities Commission announced.
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They include Vietnam-Italy Steel JSC (VIS), Petrovietnam Fertilizer & Chemicals Corp (DPM) and confectionery Kido Group (KDC).
This decision was approved in the three companies’ annual shareholders meetings this year.
These companies are among the leading ones in their production industry.
Foreign ownership in Vietnam-Italy Steel JSC is almost 25% by February 21, 2018, of which Kyoei Steel Co is the largest foreign shareholder with a 20% stake.
Foreign possession in Petrovietnam Fertilizer & Chemicals Corp was 24.5% and in Kido Group 19.62% by the end of last year.
Last year, the stock market witnessed a wave of listed companies lifting their foreign ownership restraint, including big companies in the pharmaceutical and insurance industries such as Hau Giang Pharmaceutical (DHG), Domesco Medical Import Export JSC (DMC), Bao Minh Insurance Corp (BMI) and PVI Holdings (PVI).
