vtv2 trực tiếp bóng đá hôm nayApplication and procedures for tender offer in Vietnam

Regarding this matter, LawNet would like to answer as follows:

1. Newest regulations on application for tender offer in Vietnam

According to the provisions vtv2 trực tiếp bóng đá hôm nay Article 85 vtv2 trực tiếp bóng đá hôm nayDecree No. 155/2020/ND-CPon application for tender offer in Vietnam:

(1) In case the offerer pays with money, the application shall contain:

- The application form No. 23 in the Appendix vtv2 trực tiếp bóng đá hôm nayDecree No. 155/2020/ND-CP;

Form No. 23: Download 

- The information disclosure sheet form No. 24 in the Appendix vtv2 trực tiếp bóng đá hôm nayDecree No. 155/2020/ND-CP;

Form No. 24: Download 

- A decision vtv2 trực tiếp bóng đá hôm nay the competent authority vtv2 trực tiếp bóng đá hôm nay the applying organization to approve the tender offer;

- The written confirmation vtv2 trực tiếp bóng đá hôm nay payment guarantee between credit institution and the offerer, or the confirmation that the bank account vtv2 trực tiếp bóng đá hôm nay the applicant has been frozen in order to ensure that the offerer has sufficient funds for tender offer. These documents shall be sent to SSC before it issues the notice vtv2 trực tiếp bóng đá hôm nay receipt vtv2 trực tiếp bóng đá hôm nay adequate documents;

- The securities company’s written confirmation that it is the tender offer agent;

- A document vtv2 trực tiếp bóng đá hôm nay National Competition Committee about economic concentration in case the tender offer causes the level vtv2 trực tiếp bóng đá hôm nay economic concentration to be subject to notification.

(2) In case tender offer with shares, the application shall contain the documents specified in Article 54 vtv2 trực tiếp bóng đá hôm nayDecree No. 155/2020/ND-CP.

At the same time, public offers to buy shares and closed-end fund certificates need to comply with the following principles:

- The tender offer shall ensure fairness among shareholders vtv2 trực tiếp bóng đá hôm nay the target company and investors vtv2 trực tiếp bóng đá hôm nay the investment fund.

- The tender offer parties shall be provided with adequate information to decide their purchase vtv2 trực tiếp bóng đá hôm nay shares/closed-end fund certificates.

- Respect the right to autonomy vtv2 trực tiếp bóng đá hôm nay shareholders vtv2 trực tiếp bóng đá hôm nay the target company and investors vtv2 trực tiếp bóng đá hôm nay the investment fund.

- The organization or individual that makes the tender offer (hereinafter referred to as “offerer") shall appoint a securities company as the tender offer agent.

Therefore, the registration dossier for a public offering vtv2 trực tiếp bóng đá hôm nay shares or closed-end fund certificates needs to include documents such as:

- The application form for tender offer (Form 23);

- The information disclosure sheet (Form 24);

- A decision vtv2 trực tiếp bóng đá hôm nay the competent authority vtv2 trực tiếp bóng đá hôm nay the applying organization to approve the tender offer;

- The written confirmation vtv2 trực tiếp bóng đá hôm nay payment guarantee vtv2 trực tiếp bóng đá hôm nay or the confirmation that the bank account vtv2 trực tiếp bóng đá hôm nay the applicant has been frozen;

- The securities company’s written confirmation that it is the tender offer agent;

- A document vtv2 trực tiếp bóng đá hôm nay National Competition Committee about economic concentration...

2. Order and procedures for tender offer in Vietnam

Tender offer means the occasion when an organization or individual purchases all or part vtv2 trực tiếp bóng đá hôm nay the voting shares vtv2 trực tiếp bóng đá hôm nay a public company or closed-end fund certificates vtv2 trực tiếp bóng đá hôm nay a closed-end fund in accordance with regulations vtv2 trực tiếp bóng đá hôm nay law

To ensure compliance with the law and protect the interests vtv2 trực tiếp bóng đá hôm nay related parties, organizations and individuals intending to make a tender offer need to properly follow the procedures for tender offer as prescribed in Article 86 vtv2 trực tiếp bóng đá hôm nay theDecree No. 155/2020/ND-CPas follows:

Step 1: The offerer shall submit the application for tender offer to SSC, the target company/the target investment fund management company.

Step 2: Within 03 working days from the receipt vtv2 trực tiếp bóng đá hôm nay the application, the target company/the target investment fund management company shall disclose information about the receipt vtv2 trực tiếp bóng đá hôm nay the tender offer on its website and the Stock Exchange’s website.

Step 3: Within 15 working days from the receipt vtv2 trực tiếp bóng đá hôm nay the satisfactory application, SSC shall announce the receipt vtv2 trực tiếp bóng đá hôm nay the satisfactory application on its website. In case the application is rejected, SSC shall make a written response and provide explanation.

Note: The regulations in step 3 does not apply in case shares are issued for tender offer as prescribed in Article 53 vtv2 trực tiếp bóng đá hôm nayDecree No. 155/2020/ND-CP.

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