Deadline for Payment of Share Purchases by Book-Building Method

02:48, 11/07/2024

Recently, the Ministry of Finance signed and promulgated Circular 21/2019/TT-BTC guiding the initial public offering and transfer of state capital according to the book building method.

Payment for shares purchased via the book-building method is regulated by Circular 21/2019/TT-BTC as follows:

- Within 10 days from the date of the book-building results announcement, investors must complete the purchase and transfer the payment for shares into the designated account as per the Share Sale Regulations under the book-building method.- Deposits made will be deducted from the total payment required for share purchase. If the deposit amount exceeds the payment required, investors will be refunded the difference within 03 working days from the end of the payment deadline.- If the payment deadline for share purchase is surpassed and the investor does not pay or pays insufficiently, the investor will not be refunded the deposit corresponding to the unpaid shares or will be fined an equivalent amount to the deposit value in cases of using escrow or guarantee methods. The unpaid shares are considered unsold shares and will be handled according to regulations.

More details can be found in Circular 21/2019/TT-BTC, effective from June 3, 2019.

- Thanh Lam -

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