Latest Initial Share Sale Price for Newly Equitized Enterprises?
Based on Article 4 of Circular 32/2021/TT-BTC (Effective from July 1, 2021) stipulates as follows:
The selling price of shares to investors through auction is the price at which investors bid at the auction and is determined as the winning bid according to auction results specified in Clause 5, Article 6 of this Circular. In the case of selling shares in the form of underwriting, the underwriting price must not be lower than the starting price approved in the equitization plan.
The preferential share selling price for subjects specified in Clause 1, Clause 2, Article 42 of Decree No. 126/2017/ND-CP is as follows:
a) The selling price of shares for subjects specified at Point a, Point c, Clause 1, Article 42 of Decree No. 126/2017/ND-CP is determined at 60% of the value of one (01) share calculated at face value (10,000 VND/share);
b) The selling price of shares for subjects specified in Clause 2, Article 42 of Decree No. 126/2017/ND-CP is the starting price approved by the representative agency in the equitization plan.
The preferential selling price of shares for the trade union organization in the equitized enterprise is at face value (10,000 VND/share).
The selling price of shares for strategic investors:
a) In the case of an auction among strategic investors, the selling price is the bid price determined to be the winning bid according to the principle of selecting investors with bid prices from high to low until the number of shares offered for sale in the auction among strategic investors is sufficient, and not lower than the average winning bid price of the public auction.
If the public auction is not successful, the selling price for strategic investors must not be lower than the starting price of the public auction.
In the case where the public auction has only one (01) investor registering to buy shares, the selling price for the strategic investor must not be lower than the price agreed upon with the investor who registered to buy shares in the public auction.
b) In the case where there are two (02) or more strategic investors registering to buy shares with a registered purchase volume equal to or less than the number of shares expected to be sold to the strategic investors according to the approved equitization plan, or only one (01) strategic investor registering to buy shares, the agreed selling price with each investor must not be lower than the average winning bid price of the public auction.
If the public auction is not successful, the agreed selling price for the strategic investor must not be lower than the starting price of the public auction.
In the case where the public auction has only one (01) investor registering to buy shares, the agreed selling price for the strategic investor must not be lower than the price agreed upon with the investor who registered to buy shares in the public auction.
Sincerely!
