THE MINISTRY OF FINANCE
THE STATE SECURITIES COMMISSION
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No. 895/QĐ-UBCK
SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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Hanoi, October 29th 2012
 
DECISION
PROMULGATING THE SAMPLE REGULATION ON SHARE AUCTION AT THE STOCK EXCHANGES
THE PRESIDENT OF THE STATE SECURITIES COMMISSION
Pursuant to the Government's Decree No. 59/2011/NĐ-CP dated July 18th 2011 on the conversion of 100%-state-owned enterprises into joint-stock companies;
Pursuant to the Prime Minister’s Decision No. 112/2009/QĐ-TTg dated September 11th 2009 on the defining the functions, tasks, powers and organizational structure of the State Securities Commission affiliated to the Ministry of Finance;
Pursuant to the Circular No. 196/2011/TT-BTC dated December 26th 2011 of the Ministry of Finance, guiding the first sale of stock, the management and use of the money collected from the equitization of 100%-state-owned enterprises into joint-stock companies;
At the proposal of the Director of the Department of Stock Issuance Management,
DECIDES:
Article 1. Promulgating together with this Decision the Sample Regulation on the share auction at the Stock Exchanges, superseding the Sample Regulation promulgated together with the Decision No. 521/QĐ-UBCK dated August 13th 2008 of the President of the State Securities Commission.
Article 2. The Stock Exchanges that hold the share auctions for enterprises or owners shall issue the Regulation on auctions based on this Sample Regulation in accordance with current law provisions.
Article 3. The Stock Exchanges shall establish criteria for choosing securities companies as auction agents and distance-ordering auction agents.
Article 4. Annually, theStock Exchanges shall approve the securities companies that satisfy the criteria for being auction agents and distance-ordering auction agents.
Article 5. This Decisions takes effect on the date of its signing.
Article 6. The Chief officer, the Director of the Department of Stock Issuance Management, the Director of the Stock Exchange of Ho Chi Minh city, the Director of the Stock Exchange of Hanoi, the Director of the Vietnam Securities Depository, Heads of units affiliated to the State Securities Commission, and relevant parties shall implement this Decision./.
 

 

 
THE PRESIDENT




Vu Bang
 
SAMPLE REGULATION
ON SHARE AUCTION AT THE STOCK EXCHANGES
(Promulgated together with the Decision No. 895/QĐ-UBCK dated October 29th 2012, promulgating the share auction at the Stock Exchange)
Chapter 1.
GENERAL PROVISIONS
Article 1. Scope of regulation
This Regulation is applicable to the share auction of ……….. (Name of the issuing organization) held at the Stock Exchange ……………….. (Name of the Stock Exchange)
Article 2. Interpretation of terms
The terms in this Regulation are construed as follows:
1. Share auction is the public sale of the securities of the .................. (name of the issuing organization) to the investors with competitive prices;
2. Investors are Vietnamese or foreign organizations and individuals prescribed in Article 6 of the Government's Decree No. 59/2011/NĐ-CP dated July 18th 2011 on the conversion of 100%-state-owned enterprises into joint-stock companies;
3. The agency deciding the equitization is ……………. (name of the agency competent to decide the equitization);
4. Bid increment is the difference of prices between the bids;
5. Amount increment is the difference of amount between the bids;
6. Auction price is the price for stock offered by the investor written in the bidding sheet;
7. Face value of a security being put up for auction is 10,000 VND;
8. Reserve price is the initial price of a security being offered, given by the agency deciding the equitization, or the Steering Committee of the equitization.