SOEs capitalised under 20 billion dong can self-evaluate asset value

Recently, the government issued the draft decree amending and supplementing Decree 64/2002/ND-CP dated 19 June 2002 of the government, on the conversion of SOEs into joint stock companies. Accordingly, regarding the valuation of SOEs, to shorten the time of valuating SOE assets, the draft decree allows authorities in charge of equitising SOEs to choose and sign contracts with auditing companies, securities companies and so forth to valuate SOE’s assets.
SOEs that have assets of under 20 billion dong, will be allowed to self-valuate their assets value. After their self-valuation, authorities in charge of equitising SOEs will check and certify the valuation result before publicising equitised SOEs’ asset value.
Another new point in the draft decree is that employees of former SOEs equitised obtaining preference shares are only allowed to sell preference shares to others in the next three years after these SOEs are equitised.

 

Category: Legal