Handling of Unsold Shares

17:49, 11/07/2024

Circular 69/2018/TT-BTC issued by the Ministry of Finance replaces Circular 194/2013/TT-BTC, providing guidance on restructuring state-owned enterprises that do not meet the criteria for equitization as specified in Decree 126/2017/ND-CP.

According to Circular 69, restructuring enterprises are responsible for handling unsold shares in accordance with the provisions of Decree 126/2017/ND-CP and Circular 40/2018/TT-BTC.

In the event that shares are not completely sold, they shall be handled as follows:

- If the shares are not fully sold to investors through negotiated transactions after an unsuccessful public auction or if the shares offered in the public auction are not fully sold, the Equitization/Restructuring Steering Committee will consider and decide to offer the shares to the Debt Trading Company and creditors.- If the Debt Trading Company and creditors do not purchase all the offered shares, the Equitization/Restructuring Steering Committee will report to the representative body of the owner to adjust the scale and structure of the charter capital to convert the restructuring enterprise into a joint stock company before organizing the first General Meeting of Shareholders.

Refer to Circular 69/2018/TT-BTC, effective from October 1, 2018.

- Thanh Lam -

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