Following the non-prefunding campaign, VCI reports a foreign investor who purchased FPT shares but failed to make payment.

Aegon Custody BV placed an order to buy 26,600FPT shares on December 17, 2024, but did not execute the buyback.

Following the non-prefunding campaign, VCI reports a foreign investor who purchased FPT shares but failed to make payment.

Aegon Custody BV placed an order to buy 26,600 FPT shares on December 17, 2024, but did not execute the buyback.

Vietcap Securities Joint Stock Company (VCI) has just submitted a report to the State Securities Commission regarding the settlement of share purchase transactions that do not require sufficient funds when placing orders by foreign institutional investors.  

Accordingly, the foreign investor that did not repurchase shares was Aegon Custody BV (Netherlands). This investor placed an order to buy 26,600 FPT shares on December 17, 2024.

The aforementioned shares were traded for a value exceeding 3.9 billion VND. This amount was paid by VCI.  

Transaction details were reported by VCI.

This incident occurred after Circular 68/2024/TT-BTC officially came into effect on November 2, 2024. This circular stipulated that foreign institutional investors can trade shares without requiring sufficient funds (non-pre-funding).  

This regulation is seen as a step forward in freeing up foreign capital, attracting more foreign investors to the Vietnamese stock market. However, on the one hand, securities companies will have to bear the shortfall if investors fail to pay.  

According to the regulations on clearing and settlement of transactions issued by VSDC, in the event that a foreign investor (an organization) lacks funds for payment, no later than 09:30 on day T+2, the securities company (for investors who have opened a custody account at a securities company) or the custodian bank (for investors who have opened a custody account at a custodian bank) must send VSDC a written notification requesting/rejecting payment and transfer the transaction with insufficient funds to the securities company's proprietary trading account where the investor placed the order for clearing and settlement.

VCI's case was the first to report to the State Securities Commission about a foreign investor failing to pay for an order after Circular 68 came into effect.

For securities companies, in situations where foreign investors lack sufficient funds to meet their payment obligations, the temporary handling procedure after transferring the assets to the proprietary trading portfolio is to conduct negotiated transactions or forced sales to recover the funds.  

Source: https://baodautu.vn/hau-non-prefunding-vci-bao-cao-mot-nha-dau-tu-ngoai-mua-co-phieu-fpt-khong-thanh-toan-d233997.html