What are conditions for listing on the Stock Exchange after full or partial division of a company in Vietnam?

What are conditions for listing on the Stock Exchange after full or partial division of a company in Vietnam? - image from internet

Pursuant to Clause 3 Article 112 of the Decree 155/2020/ND-CP stipulating conditions:

- Conditions for listing of a partially divided company and the new company established after division shall be the same as those specified in Clause 1 Article 109 of this Decree;

- In case listed company is partially divided, the divided company will stay listed if it satisfy the conditions for public companies specified in the Law on Securities and does not incur losses continuously for 02 years according to the annual financial statements of the last 02 years preceding the division year of the divided company;

- In case listed company is partially divided, the divided company will stay listed if it satisfy the conditions for public companies specified in the Law on Securities and does not incur losses continuously for 02 years according to the annual financial statements of the last 02 years preceding the division year of the divided company;

- If the partially divided company is not listed but has been registered on UPCOM for at least 2 years or has made public offering of shares, and the total assets of the new company are smaller than 35% of total assets of the divided company, the divided company shall satisfy the conditions specified in Clause 1 Article 109 of this Decree (except required net worth and registration time of UPCOM); fulfillment of the conditions specified in Point c Clause 1 Article 109 of this Decree shall be determined according to the annual financial statements of the last 02 years preceding the listing year of the divided company;

- If the partially divided company is not listed but has been registered on UPCOM for at least 2 years or has made public offering of shares, and the total assets of the new company are at least 35% of total assets of the divided company, the divided company shall satisfy the conditions specified in Clause 1 Article 109 of this Decree (except required net worth and registration time of UPCOM); fulfillment of the conditions specified in Point c Clause 1 Article 109 of this Decree shall be determined according to:

- The pro forma financial statements of the last 02 years preceding the listing year of the divided company (if the application for listing is submitted in the division year).

- The pro forma financial statement of the year preceding the division year and the latest annual financial statement of the divided company (if the application for listing is submitted in the year succeeding the division year);

- The annual financial statements of the last 02 years of the divided company (if the application for listing is submitted in the second year succeeding the division year);

- In cases other than those specified in Points b, c, d, dd of this Clause, the divided company shall satisfy the listing conditions specified in Clause 1 Article 109 of this Decree.

Best regards!