CONVERTIBLE BONDS PRIVATELY ISSUED ARE ALLOWED TO TRANSFERRED AT THE ISSUING TIME
This new provision is prescribed at the Circular No. 33/2019/TT-NHNN dated December 31, 2019 of the State Bank of Vietnam on amending and supplementing a number of Articles of the Circular No. 34/2013/TT-NHNN on issuance of exchange bill, treasury bills, deposit certificates and domestic bonds of credit institutions and foreign bank branches.
Accordingly, ownership to valuable papers may be transferred in the forms of buying, selling, offering, giving, exchanging and inheriting in accordance with provisions of relevant laws.
This Circular repeals provisions that: For convertible bonds that are issued in private placements, warrants issued in conjunction with such bonds shall not be transferred within a minimum period of 01 year from the finishing date of issue, except for the case of transferring among professional securities investors. In concussion, convertible bonds that are issued in private placements, warrants issued in conjunction with such bonds shall be transferred right at the time of issuance.
This Circular also amends and supplements regulations on issuance of bonds. For Plan on bond issuance which is approved before the effective date of this Circular, credit institution shall continue implementing according to such Plan.
This Circular takes effect on February 19, 2020.
