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13 DecEnterprises must have charter capital contributed from 30 billion VND to sell shares
According to the 2019 Securities Law, a joint stock company that wants to offer shares to the public for the first time must meet the following conditions:
- The amount of charter capital contributed at the time of registration for offering is from VND 30 billion or more calculated according to the value recorded in the accounting books (Currently, only the amount of charter capital contributed is VND 10 billion);
- Business operations of 02 consecutive years preceding the year of registration of the offering must be profitable; At the same time, there are no accumulated losses up to the year of registration of the offering;
- Having a plan for issuance and a plan to use the capital obtained from the share offering approved by the General Meeting of Shareholders.
In addition, the company also needs to meet some new conditions such as:
- At least 15% of the voting shares of the issuing company must be sold to at least 100 investors who are not major shareholders (this rate is 10% if the charter capital is VND 1,000 billion or more);
- Shares of issuing organizations must be listed or registered for stock trading on the securities trading system after the end of the offering ...
See details in Article 15 of Law on Securities 2019 (replacing the 2006 Securities Law and the amended Securities Law 2010).
Therefore, the conditions for public offering of securities have been standardized towards stricter regulations.
Source: thuvienphapluat.vn
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