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Legal Update

Dossier of Registration of Public Offering of Securities

9 January 2009
Mayer Brown JSM Legal Update

Summary 
 
On 26 November 2008 the Ministry of Finance of Vietnam issued Circular 112/2008/TT-BTC ("Circular 112") amending and supplementing Circular 17/2007/TT-BTC dated 13 March 2007 providing guidance on dossiers for registration relating to the public offering of securities.
 
Full Update 

Circular 112 provides supplementary guidance on documents to be included in dossiers for registration of the public offering of shares and bonds (the ''Dossier"), as follows:

  • Documents in relation to land use rights, decisions on approval of projects or appraisal of projects using proceeds gained from the offering and the detailed plan on use of such proceeds;
  • Consultancy contracts in respect of preparation of the Dossier executed with a securities company;
  • Reports on the use of proceeds of the latest securities public offering tranche, which have been registered with the State Securities Commission (applicable to registration of public offering of shares).
Circular 112 further provides that the opinion of the auditor in respect of the financial statement included in the Dossier must be in accordance with Auditing Standard No.700 "audit report on financial statement" attached to Decision 120/1999/QD-BTC dated 27 September 1999 of the Ministry of Finance.

Documents of registration for the public offering of public fund certificates and shares in a securities investment company remain unchanged. Circular 112 took effect from 29 December 2008.
 
For further information, please contact:
Dao Nguyen ( )
Hoang Anh Nguyen ( )
Hoang Ly Nguyen ( )
 
Learn more about our Vietnam office and Finance practice.

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