The point was raised at a seminar which was held in Hanoi on October 9 on the implementation of Decision 51/2014/QD-TTg on capital transfer, divestment and listing on the stock market of SOEs. SCIC is mandated to buy stakes divested by SOEs from non-core investments in banking and insurance sectors and acquire SOEs’ shares in initial public offerings (IPOs). SCIC is now building its own regulations on such matters. “SCIC will make a purchase when SOEs fail to sell their stakes below par value or book value, or fail to sell shares to banks designated by the central bank,” SCIC said. In case of disagreement with SCIC, State-run groups and corporations can report to the Government and the Ministry of Finance to find out a solution.
Source english.thesaigontimes.vn
