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| New regulations about offering individual shares |
| 07/Jan/2010 Intellasia | Thoi Bao Kinh Te Vietnam page 10 |
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| 7 Jan, 2010 - 10:56:39 AM |
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Prime minister has issued decree regulating offering individual shares and treatment for violation in offering individual shares caused by newly established joint stock companies, and capitalised enterprises in Vietnam.
The conditions for offering individual shares were that the companies' management board have to issue decision approving the share-offering methods and how to use the money gained from offering shares in accordance with the companies' regulations.
There should be detailed information relating to the objects for share-offering period and number of investors must be below 100 people. The issued shares will be transfer-limited for at least 1 year, starting from the date of issue.
The decree also clearly mentioned that the government would fine up to 100 million dong for violating the laws.
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