New regulations on adjusting the charter capital structure for equitized enterprises

04/07/2019

The Ministry of Finance has just issued Circular 34/2019 / TT-BTC amending and supplementing Circular No. 40/2018 / TT-BTC guiding the first sale of shares and the management and use of proceeds from equitization of State enterprises and one-member limited liability companies with 100% of their charter capital invested by state enterprises transformed into joint-stock companies.

Circular 34 supplements Article 9a on "Principles to adjust the charter capital structure":

1. For equitized enterprises being State enterprises: in case enterprises conduct equitization in the form of selling part of the State capital in combination with issuing more stocks or selling all the State capital combined with issuing additional shares, the adjustment of the charter capital structure shall be made as follows:

Determining the number of sold shares is the number of additional shares issued according to the equitization plan approved by the representative agency. If the total number of shares sold in the forms prescribed in this Circular (including the number of shares sold to strategic investors) is larger than the number of additional shares issued under the plan to sell shares, the difference of the increase is determined to be the share sale of state capital.

The number of preferred shares sold to the subjects specified at Points a and c, Clause 1, Article 42 of Decree No. 126/2017 / NĐ-CP is determined to be the number of shares sold to the state capital share.

2. For equitized enterprises being enterprises with 100% of their charter capital invested by State enterprises: The adjustment of the charter capital structure in cases where enterprises are wholly invested by State enterprises equitized in the form of selling part of the state capital in combination with issuing more stocks or selling all state capital combined with issuing more stocks based on the principles stated in Clause 1 of this Article for implementation. .

At the same time, Circular 34 also supplements Article 20a on "Responsibilities of the Members' Council, Chairman of state enterprises", including: Approving the equitization plan of level II enterprises to deploy the sale of shares and manage and use proceeds from equitization in accordance with the provisions of this Circular, except for the units specified at Point b, Clause 1, Article 45 of Decree No. 126/2017/NĐ-CP.

To inspect and supervise the Equitization Steering Committee and the equitized II-level enterprises in the sale of shares under the approved plan and manage and use the proceeds from equitization according to regulations, except units defined at Point b, Clause 1, Article 45 of Decree No. 126/2017 / ND-CP; decisions approving the finalization of equitization expenses, redundant labor support funds and the proceeds from equitization of equitized II-level enterprises.

This Circular takes effect on July 29, 2019.

Source: chinhphu.vn

Các tin đã đưa ngày: