Public company must disclose information about foreign holdings on Vietnam’s securities market

According to Article 13 of the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, disclosure of information about other activities of a public company are specified as follows:

- Disclosure of information about offering, issuance, listing, registration and reporting on fund use: The public company that performs private placement, public offering, issuance, listing or registration of securities must disclose information about its offering, issuance, listing, registration and reporting on use of funds in accordance with regulations on offering, issuance, listing and registration of securities.

- Disclosure of information about foreign holdings: The public company must disclose the maximum rate of its foreign holdings and any changes therein on its website, the websites of Stock Exchange (SE) and Vietnam Securities Depository and Clearing Corporation (VSDCC), and the media of the State Securities Commission (SSC) in accordance with regulations of the Law on Securities regarding foreign investment activities on Vietnam’s securities market.

- Disclosure of information about share repurchase and sale of treasury stocks

+ If a public company repurchases its shares or sells treasury stocks, it shall disclose information in accordance with regulations on share repurchase and sale of treasury stocks.

+ In case of share repurchase, after all of repurchased shares are fully paid for, if the total assets in the company’s accounting books is reduced by more than 10%, the company shall send a notification to all of its creditors and disclose information within 15 days from the payment date.

View more details at the Circular No. 96/2020/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2021.

Le Vy

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