Vietnam: Conditions for non-public offering of securities of public company

17:14, 01/08/2011

Non-public offering of securities is the process of offering securities to fewer than one hundred investors, excluding professional securities investors, without using public information channels or the internet. The conditions for non-public offering of securities are considered to be simpler compared to the conditions for public offering of securities.

Conditions for non-public offering of securities of public company are as follows:

- Having decision of shareholders' general assembly or management board to pass the plan of offering and the use of the generated amount from the offering phase; defining clearly objects, quantity of investors;

- The assignment of shares, non-public offering convertible bonds is restricted for selling at least 01 year, since the date of completing offering phase, except for the case of non-public offering according to the program of selection for laborers in the company, assignment of individual’s shares to professional securities investor, securities assignment between professional securities investors according to court’s decision or inheriting under regulations of law;

- Offering phases of shares, non-public offering convertible bonds must be 06 months away from each other.

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.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

18 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn