Foreign investors buying FPT shares are slow to pay, Ms. Nguyen Thanh Phuong's company must pay

Vietcap Securities Joint Stock Company, chaired by Ms. Nguyen Thanh Phuong, has just sent a report to the Securities Commission about foreign investors buyingFPT shares but not paying yet.

Foreign investors do not need enough money to buy stocks, securities companies are worried about "exploding" - Photo: QUANG DINH

Circular 68 of the Ministry of Finance stipulates that investors do not need enough money to buy stocks, effective from November 2.

In a report recently sent to the Securities Commission, Vietcap Securities Joint Stock Company reported a case where a foreign investor did not advance money but had not yet made payment.

Specifically, Aegon Custody BV - an institutional investor from the Netherlands - placed a purchase order and matched 26,600 FPT shares on December 17.

The total amount that the foreign investor must pay is nearly 4 billion VND, however, because the investor has not paid, Vietcap Securities must pay.

This is applied according to the new regulations in Circular 68, in case the foreign investor does not pay enough money for the transaction, the payment obligation will be transferred to the securities company where the investor placed the order through the self-trading account.

Previously, foreign investors had to transfer enough money before placing an order to buy securities. Even if they could not buy, they still had to pay the fee to transfer money from abroad to Vietnam and vice versa.

International rating organizations assess this as a barrier to foreign capital flows into Vietnam and recommend that Vietnam should remove it to speed up the process of upgrading its stock market.

After two public consultations and finalization, Mr. Nguyen Duc Chi - Deputy Minister of Finance - has just signed and issued a circular amending and supplementing a number of articles on transactions, clearing and payment, and information disclosure on the stock market.

The Circular clearly states that securities companies shall assess the payment risk of foreign institutional investors to determine the amount of money required when placing an order to buy shares according to the agreement between the two parties.

Source: https://tuoitre.vn/nha-dau-tu-ngoai-mua-co-phieu-fpt-cham-thanh-toan-cong-ty-cua-ba-nguyen-thanh-phuong-phai-tra-20241221182728383.htm