Petrovietnam Gas Joint Stock Corporation faced delisting risk but was granted temporary exemption

Petrovietnam Gas Joint Stock Corporation (GAS) held its Annual General Meeting of Shareholders, where the risk of its shares being delisted was discussed. According to the revised Securities Law, GAS does not meet the condition of having at least 10% of voting shares held by a minimum of 100 retail shareholders, as Petrovietnam currently owns 95.8% of GAS's shares. However, GAS's Chairman of the Board of Directors stated that the upcoming draft Law on State Capital Management is expected to exempt state-owned enterprises undergoing capital restructuring from this delisting requirement during a transitional period.

Petrovietnam Gas Joint Stock Corporation (GAS) held its Annual General Meeting of Shareholders, where the risk of its shares being delisted was discussed. According to the revised Securities Law, GAS does not meet the condition of having at least 10% of voting shares held by a minimum of 100 retail shareholders, as Petrovietnam currently owns 95.8% of GAS's shares. However, GAS's Chairman of the Board of Directors stated that the upcoming draft Law on State Capital Management is expected to exempt state-owned enterprises undergoing capital restructuring from this delisting requirement during a transitional period.

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