The Hanoi Securities Trading Centre (HASTC) has approved the Nha Be Garment Joint Stock Company’s proposal to withdraw its application for listing at HASTC. This is for the second time a company cancels its plan to list at HASTC.
One month ago, at the end of December 2006, VIB Bank also decided to withdraw the applications for listing at HASTC.
Analysts said that the Nha Be and VIB bank decided to cancel their listing at HASTC because they could not list on the bourse before January 1, 2007 in order to enjoy tax incentives. Under the previously applied regulations, listing companies could enjoy the 50% corporate income tax reduction for two years. However, the tax incentives have been removed since January 1, 2007.
Nha Be Company applied for listing 6.4mil shares at HASTC on November 22, 2006. The state now holds 51% in the company, its staffs hold 26.4% and outside investors 22.6%.
Source: VNE
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