From September 15, shares of equitized state enterprises neither yet listed on the stock exchanges nor registered for trading on the Unlisted Public Company Market (UpCOM) may be sold in lots through auction at the stock exchanges based on in-lot sale plans approved by competent authorities.
The 2015 meeting of unlisted public companies__Photo: hnx.vn
Under Prime Minister Decision No. 41/2015/QD-TTg dated September 15, the State will sell in lots shares of joint-stock companies which had not been listed or registered for trading held by ministries, ministerial-level agencies, government-attached agencies, provincial-level People’s Committees, or state-owned economic groups and corporations.
Shares on sale may be divided into various lots for auction based on their quantity and market situation. There will be only one share lot to be auctioned each time, which is worth at least five percent of the charter capital of the joint-stock company.
Investors participating in share auctions are not required to make public their bids under the law on securities and securities market.
Domestic and foreign investors can purchase shares in unlimited quantities, except shares of businesses in sectors where relevant laws or treaties to which Vietnam is a contracting party set a maximum rate of shares held by foreign investors.
Investors purchasing shares in lots must be those having financial capability, committing to developing long-term interest attachment to the companies, and having plans to further employ existing employees.
A share lot’s reserve price is reserve price of a share, which is determined by a valuation organization, multiplied by the number of shares in the lot.- (VLLF)