Selling Securities in Public Bid
- Confirm Securities Balance and Escrow Securities
If customers want to sell securities in a public bid, they must firstly take the Application for Securities Sale Registration at the Bid Agent. Then, they need to contact the FPTS Custody and Shareholding Management Counter for detailed instructions for determining securities balance and escrowing securities.
- Documents include
- Identity Card/Citizenship Card/Passport (valid original): Applicable to individual customer
- Business Registration Certificate (notarized copy) and Letter of Recommendation: Applicable to institutional customer
- Securities Sale Registration Form (provided by Bid Agent).
- Releasing escrowed securities after cancelling sale registration
To cancel sale registration, customers must contact the Bid Agent to get the Sale Registration Cancellation Form with an official seal stamped by the Bid Agent. Based on customer’ request and the Sale Registration Cancellation Form, FPTS will perform unblock securities held in an escrow.
- Documents include
- Identity Card/Citizenship Card/Passport (valid original): Applicable to individual customer
- Business Registration Certificate (notarized copy) and Letter of Recommendation: Applicable to institutional customer
- Sale Registration Cancellation Form (verified by the Bid Agent).
- Payment settlement for securities sold, payment of fees and taxes
The time for settling payment for securities sold and transferring securities ownership rights is ten days dating from the date of closing the bid offer. Proceeds will be transferred into the account of customers opened at FPTS.
FPTS shall withhold money from the customer’s account to pay for transaction fees and income tax according to the law before settling the final payment for customers. For fee payment, please refer to the FPTS Service Tariff for Underlying Securities.