SHC: Notice on maximum foreign ownership rate

On December 04, 2023, the State Securities Commission of Vietnam (SSC) announced Official Dispatch No. 8523/UBCK-PTTT as follow:
The State Securities Commission of Vietnam (SSC) received the dossier notifying the maximum foreign ownership rate No. 05/2023/TBSHNN-SHC dated November 22, 2023 of Sai Gon Maritime Joint Stock Co. Ltd (the Company) (UPCOM: SHC) at 0%, the State Securities Commission has the following opinions as follow:
1. Organizations and individuals participating in the process of preparing the dossier to notify the rate of foreign ownership rate are responsible before the law for the accuracy, truthfulness and completeness of the dossier as prescribed in Clause 1. Article 6 of Decree No. 155/2020/ND-CP dated December 31, 2020 of the Government detailing the implementation of a number of articles of the Securities Law (Decree 155/2020/ND-CP).
2. SSC recommends that the Company fulfill its information disclosure obligation as prescribed in Clause 2, Article 13 of Circular No. 96/2020/TT-BTC dated November 16, 2020 of the Ministry of Finance guiding the announcement news on the stock market and comply with legal regulations on the rate of foreign ownership rate in the Vietnamese stock market.
3. Vietnam Securities Depository and Clearing Corporation (VSDC) shall update and adjust the system on the maximum foreign ownership rate ratio at the Company according to the provisions of Clause 4, Article 142 of Decree No. 155/2020/ND-CP.
SSC notifies the Company, VSDC and related units to know and comply with regulations./.