| THE MINISTRY OF FINANCE ------- | SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ------------ |
| No: 80/2002/TT-BTC | Hanoi, September 12, 2002 |
CIRCULAR
GUIDING THE ISSUANCE UNDERWRITING AND AUCTION OF EQUITIZED STATE ENTERPRISES SHARES TO THE OUTSIDE
In furtherance of the Government’s Decree No. 64/2002/ND-CP of June 19, 2002 on transforming State enterprises into joint-stock companies, the Ministry of Finance hereby guides the procedures and method of selling the equitized State enterprises shares to the outside in the form of auction or issuance underwriting as follows:
Part I
GENERAL PROVISIONS
1. Scope and subjects of application
When selling shares for the first time to the outside
2. The words and phrases referred to in this Circular are construed as follows:
2.1. Share auction is the form of public sale of shares of equitized State enterprises to the outside subjects with competitive prices.
2.2. Issuance underwriting (in case of first-time sale of shares of equitized State enterprises) means an act whereby the underwriting organizations guarantee the implementation of the plans on the sale of shares of equitized State enterprises to the outside subjects in the form of auction. If shares cannot be sold out, the underwriting organizations must buy up the quantities of unsold shares at the reserve price.
