Shorten the time limit for disclosing information about results of the private placement of bonds
On September 16, 2022, the Government issues the Decree No. 65/2022/ND-CP amending and supplementing a number of articles of Decree No. 153/2020/ND-CP dated December 31, 2020, on private placement of corporate bonds and trading of privately placed corporate bonds in the domestic market and offering of corporate bonds to the international market.
According to the new regulation, to increase the par value of bonds privately placed/offered in the domestic market to VND 100,000,000 or its multiples, instead of VND 100,000 or its multiples. Besides, the identification of professional securities investors to purchase privately placed corporate bonds is also stricter. To be specific:
The investors must ensure that the list of securities listed and registered for trading, held by investors has a value of at least VND 2 billion, which is determined by the daily average market value of the securities portfolio for at least 180 consecutive days prior to the date of determination of the professional securities investor status, excluding the value of loans for margin trading and the value of securities for redemption.
Noticeably, the Government also decide to shorten the time limit for disclosing information about results of the private placement of bonds from 10 days to 5 working days: Within 5 working days after completing a private placement of bonds, a corporation shall disclose information about results of the private placement of bonds to bond-holding investors and send the disclosed information to the concerned Stock Exchange.
This Decree takes effect on September 16, 2022.