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ARTICLE · 12 FEBRUARY 2010

Decree 01 on Private Placement of Shares

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On 4 January 2010 the Prime Minister issued Decree No. 01/2010/ND-CP ("Decree 01") providing for both the private placement of shares by Vietnamese shareholding companies ("Offering Enterprise") and the administrative penalties for offences in relation to such private placement activities.

VietnamFinance and Banking
Dao Nguyen
Dao Nguyen
Thinh Phu Dan
Thinh Phu Dan
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Originally published 1 February 2010

Keywords: Decree 01, private placement, shares, Vietnam, shareholding companies

Summary

On 4 January 2010 the Prime Minister issued Decree No. 01/2010/ND-CP ("Decree 01") providing for both the private placement of shares by Vietnamese shareholding companies ("Offering Enterprise") and the administrative penalties for offences in relation to such private placement activities.

Full Update

Shareholding companies established and operating under foreign laws are not permitted to offer shares in Vietnam unless otherwise stipulated in international treaties to which Vietnam is a member.

Applicable entities are (i) shareholding companies and (ii) enterprises converting into shareholding companies, except for wholly State-owned enterprises converting into shareholding companies.

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