On 11/04/2019, the Ministry of Finance issued Circular 21/2019/TT-BTC providing guidelines for the initial sale of shares and state capital transfers in accordance with the method of book making, effective on 03/06 /2019.
Accordingly, Circular 21/2019/TT-BTC has the following outstanding contents:
– The transfer of state capital and investment capital of state-owned enterprises in joint-stock companies must be elaborated according to law provisions.
– The plan of capital transfer in the form of book-keeping must be publicly announced at least 20 days before the opening of the order book at the head office of the capital owner (state-owned enterprise) and a joint-stock company with capital may be transferred. assign, manage the order book, on the mass media (three consecutive issues of a newspaper published nationwide and a local newspaper where the capital owner has its head office, company shares are headquartered) and posted on the website of the owner of capital, managing the order book, the joint stock company with capital transfer (if any).
Thus, Circular 21/2019/TT-BTC guided the process of transferring state capital, investment capital of state-owned enterprises in joint-stock companies by the method of making books.