Luat Viet

Advocates & Solicitors

“I don't need lawyers who win at all costs, I really need them to win, but calculate the costs.”

SUBCRIBE NEWSLETTER

Search

question and answer

Question :: Some enterprises have recently issued convertible bonds in the Stock Market. What is the convertible bond and conditions to issue convertible bonds ?
Question :: Shares of my Company are listed on the HOSE. The enterprise intended to increase its charter capital under the form of issuing additional shares to offer investors in 2009. Nevertheless, when the enterprise registered the dossier to increase its charter capital with the competent Planning and Investment Department, this competent authority did not accept the vote counting minutes, which collects the shareholders’ written opinion. As a result, the Planning and Investment Department requested the enterprise to supply the copy of the Minutes of the General Meeting of Shareholders of the Company. Please kindly advise how the law regulates this case?
Question :: We are a bank accepted by the State Securities Commission (SSC) to issue share to public to increase the charter capital. Under the applicable regulations, the invested capital by the Investors to purchase shares of an enterprise must deposit in an escrow bank account at a commercial bank (CB). Please kindly advise whether we are permitted to open such bank account at our bank or not?

Hit counter

Users online

Page loadtime

LEGAL NEWS

Listing and transacting of Government bond issuing in Foreign Currencies.

On April 24, 2009, the State Securities Commission of Vietnam (“SSC”) issued Decision No. 253/QD-UBCK providing regulations on listing and transacting of government bond issued by the Government dominated in foreign currencies (“sovereign bond”) at the Hanoi Stock Exchange (“HNX”).
An application file and its registration procedure for a sovereign bond to be listed are regulated similarly with those of a government bond to be listed and dominated in Vietnamese Dong.
Any investor who has not opened any account and desires to conduct a bond transaction can use his current securities account or open a new transaction securities account at a securities company. Furthermore, the investor must open a foreign currency payment account at a commercial bank under SBV’s guidelines.
A sovereign bond can be transacted through the bond transaction system of HNX in an agreed transaction manner.
In respect of a bond transaction, a listing unit is 01 cent. A fluctuation margin of price is not being applied. SSC does not provide a maximum bond transaction unit and an amount for each transaction.
All bond transaction payment can be directly made in US$ within 01 working day following the transaction date. All depository members and the securities depository center must open their respective balance payment accounts in foreign currencies at an appointed bank for any bond transaction payment.
This Decision has effect from its signing date.