Loss-making companies as well as those with overdue debts will not be allowed to issue additional shares, the Ministry of Finance said in a recent circular.
These companies are also banned from buying back their shares, circular 18/2007/TT-BTC said.
Public-owned companies, which want to buy back between 10-30% of their issued shares as treasury stocks, have to receive approval from the shareholders.
In case shares buy back raise a public-owned company's treasury stocks to more than 25% of its issued shares, the buyback shares should be conducted through public transaction in accordance with the Securities Law.
Source: VNA
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