Vietnam: Cases of public bid of a public company

According to the Law Amending, Supplementing a number of Articles of Law on Securities in 2010 of Vietnam, the following cases are subject to public bid:

- Bids for voting stocks, the closed fund certificates which lead to the ownership of twenty five percent or more of outstanding stocks, the closed fund certificates of a public company, closed fund;

- Organizations, individuals and relative persons hold from twenty five percent or more of voting stocks, fund certificates of a public company, closed fund that continue to buy from 10% or more of voting stocks, outstanding fund certificates of a public company, closed fund;

- Organizations, individuals and relative persons hold from twenty five percent or more of voting stocks, fund certificates of a public company, closed fund that continue to buy from 5% to less than 10% of voting stocks of a public company, closed fund in a period of less than one year since the date of ending previous public offering phase.

The following cases are not required to offer publicly:

- Buying newly published stocks, fund certificates which lead to the ownership of twenty five percent or more of voting stocks, fund certificates of a public company, closed fund according to issuing plan passed by shareholders' general assembly of public company, representative board of the closed fund;

- Receiving the assignment of voting stocks, fund certificates which lead to the ownership of twenty five percent or more of voting stocks, fund certificates of a public company, the closed fund passed by shareholders' general assembly of public company, representative board of the closed fund;

- The assignment of stocks between companies in the enterprise held under model of parent-subsidiary Company;

- Giving, inheriting stocks;

- Assigning capital according to decision of the courts;

- Other cases which are decided by the Ministry of Finance.

View more details at the Law Amending, Supplementing a number of Articles of Law on Securities in 2010 of Vietnam, effective from July 01, 2011.

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