Decree No. 155/2020/NĐ-CP elaborating the Law on Securities 2019 of Vietnam

Nguyen Trinh

14:40, 04/01/2021

Recently, the Government of Vietnam has issued the Decree No. 155/2020/NĐ-CP elaborating some articles of the Law on Securities 2019.

According to Article 13 of the Decree No. 155/2020/NĐ-CP of the Vietnam’s Government, conditions for public offering of shares by shareholders of public companies are specified as follows:

- The offered shares satisfy the conditions specified in Point a Clause 1, Point b Clause 2 Article 15 of the Law on Securities of Vietnam.

- If the offering shareholder is an organization, the offering plan must be approved by the supervisory authority of that organization in accordance with the Law on Enterprises of Vietnam and its charter.

- The offered shares are under the ownership of the offering shareholders and are freely transferable.

- There is a securities company that provides Initial public offering (IPO) advisory services, unless the offering shareholder is a securities company.

- The offering shareholder must open an escrow account to receive payment for the offered shares.

- The foreign ownership ratio in the public company whose shares are offered is conformable.

- …

More details at the Decree No. 155/2020/NĐ-CP of the Vietnam’s Government, effective from January 01, 2021.

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