What are the conditions for a public company to make private placement at lower prices than face value in Vietnam?
Article 44 of Decree 155/2020/ND-CP stipulates the conditions for a public company to make private placement at lower prices than face value in Vietnam:
1. The shares are only offered to strategic investors and the transfer of shares is restricted for at least 03 years from the ending date of the offering, unless otherwise dictated by an effective court judgment or decision, arbitral decision or a will as prescribed by law.
2. The issuance must not lead to violations against regulations on cross ownership of the Law on Enterprises.
3. The conditions specified in Points a, d and dd Clause 1 Article 31 of the Law on Securities, Clauses 1 and 2 Article 17 of this Decree are satisfied.
Sincerely!
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