What are requirements for initial public offering of fund certificates in Vietnam in 2024? What are the face values of a publicly offered fund certificate in Vietnam?

What are requirements for initial public offering of fund certificates in Vietnam in 2024?

Pursuant to Clause 5 Article 15 of the Law on Securities in 2019 stipulating requirements for initial public offering of fund certificates in Vietnam:

- The total value of the offered fund certificates is 50 billion VND;

- There is a plan for issuance and use of capital generated by the offering as prescribed by this Law;

- The offering is supervised by a supervisory bank as prescribed by this Law;

- The publicly offered fund certificates are listed on the securities trading system after the end of the offering, except open-end fund certificates.

What are the face values of a publicly offered fund certificate in Vietnam?

Pursuant to Article 13 of the Law on Securities in 2019 stipulating face values of a publicly offered fund certificate:

Face values of securities

1. Face values of securities offered within Vietnam’s territory shall be expressed as VND.

2. The face value of a publicly offered share or fund certificate shall be 10 thousands VND. The face value of a publicly offered bond shall be a multiple of 100 thousands VND.

3. In case the securities price of an issuer on the securities trading system is lower than the face value, the issuer may offer the securities at that lower price.

As regulated above, the face value of a publicly offered fund certificate shall be 10 thousands VND.

In case the fund certificate price of an issuer on the securities trading system is lower than the face value, the issuer may offer the fund certificate at that lower price.

What are requirements for initial public offering of fund certificates in Vietnam in 2024? What are the face values of a publicly offered fund certificate in Vietnam? - image from internet

What documents are included in the application for listing of certificates of a closed-end fund and shares of a public investment company in Vietnam?

Pursuant to Clause 3 Article 110 of the Decree 155/2020/ND-CP:

Application for listing of shares or fund certificates

...

2. The application prepared by a company that has been trading on UPCOM for at least 02 years shall include:

a) The documents specified in Points a , c, d, dd, g, h Clause 1 of this Article;

b) The decision of the GMS to approve the listing;

c) The prospectus form No. 29 in the Appendix hereof.

3. The application for listing of certificates of a closed-end fund, real estate investment fund, exchange traded fund (ETF) and shares of a public investment company shall include:

a) The application form No. 28 in the Appendix hereof;

b) The certificate of registration of the securities investment fund, the Establishment and operation license of the investment company enclosed with the prospectus, investor register or shareholder register;

c) The report on investment portfolio of the fund or investment company at the registration date confirmed by the supervisory bank;

d) The certificate of registration of fund certificates or shares of the investment company issued by VSDCC.

4. After approving the listing, the Stock Exchange shall send a copy of the application for listing to SSC.

As regulated above, the application for listing of certificates of a closed-end fund and shares of a public investment company in Vietnam includes following documents:

- The application form;

- The certificate of registration of the securities investment fund, the Establishment and operation license of the investment company enclosed with the prospectus, investor register or shareholder register;

- The report on investment portfolio of the fund or investment company at the registration date confirmed by the supervisory bank;

- The certificate of registration of fund certificates or shares of the investment company issued by VSDCC.

Best regards!