A series of billion-dollar companies from PV GAS, BSR, ACV, Becamex… to major banks are at risk of revoking public company status and leaving the stock exchange

Many large companies in Vietnam such as PV GAS, BSR, and VIMICO are facing the risk of having their public company status revoked due to not meeting the requirements for small shareholder ownership ratios. Specifically, PV GAS currently has 17,495 shareholders, with the major shareholder PVN holding up to 95.76%, while minor shareholders own only 4.24%. Similarly, at BSR, the ownership ratio of major shareholders reaches 92.1%.

According to the Securities Law, to maintain public company status, a business needs to have at least 10% of shares owned by 100 investors who are not major shareholders. If these conditions are not met after one year, companies must go through procedures to revoke their public company status.

Many other large companies such as BIDV, GVR, and those on the Upcom exchange also find themselves in the same situation, as the ownership ratio of small shareholders has not reached the required standard. To address this issue, some companies like BSR and Becamex IDC are looking at divestment and seeking strategic investors to reduce the ownership ratio of major shareholders.