Sequence and Procedures for Registering a Public Tender Offer for Shares
Based on Article 86 of Decree 155/2020/ND-CP stipulating the procedures for registering public tender offers for shares as follows:
The organization or individual making the tender offer shall send the registration dossier to the State Securities Commission; simultaneously send it to the target company, and the fund management company managing the target investment fund.
Within 03 working days from the date of receipt of the registration dossier, the target company and the fund management company managing the target investment fund are responsible for disclosing information about the receipt of the tender offer on the electronic information portal of the target company, the fund management company managing the target investment fund, and the stock exchange.
Within 15 days from the date of receipt of a complete and valid dossier, the State Securities Commission shall notify in writing the organization or individual making the tender offer and publish it on the electronic information portal of the State Securities Commission about the receipt of the complete registration dossier; in case of refusal, a written response stating the reason must be provided.
The provisions of Clause 3 of this Article do not apply to the issuance of shares for public tender offers as stipulated in Article 53 of this Decree.
Sincerely!
