What are procedures for listing registration and official trading of shares by acquiring enterprises on Ho Chi Minh Stock Exchange in Vietnam?

What are procedures for listing registration and official trading of shares by acquiring enterprises on Ho Chi Minh Stock Exchange in Vietnam?

In Article 13 of the Regulations on listing of securities on Ho Chi Minh Stock Exchange, issued together with Decision 85/QD-SGDHCM in 2018, there are regulations on procedures for listing registration and official trading of shares by acquiring enterprises on Ho Chi Minh Stock Exchange as follows:

1. Listing of shares by acquiring enterprises:

1.1. If the acquiring enterprise and acquired enterprise(s) all are listed on HOSE or the acquiring enterprise is listed on HOSE but acquired enterprise(s) is (are) not listed on HOSE, the acquiring enterprise shall follow application procedures for changes to listing in Article 20 hereof. Time limits for submission and consideration of application are as follows:

a) Within thirty (30) days from the receipt of a complete and valid application, HOSE shall issue a decision on approval for changes to listing. If an application is refused, HOSE shall specify reasons in writing.

b) Within one (01) month from the issue date of a new enterprise registration certificate, the acquiring enterprise that meets requirements in Point 1.1 Clause 1 Article 11 hereof must apply for changes to listing.

c) Within six (06) months from the issue date of a new enterprise registration certificate, the acquiring enterprise that meets requirements in Point 1.2 Clause 1 and Point 2.2 Clause 2 Article 11 hereof must apply for changes to listing.

d) Within one (01) month from the issue date of a new enterprise registration certificate, the acquiring enterprise that meets requirements in Point 2.1 Clause 2 Article 11 hereof must apply for changes to listing.

e) Within one (01) month following one (01) year after the issue date of a new enterprise registration certificate, the acquiring enterprise that meets requirements in Point 1.3 Clause 1 and Point 2.3 Clause 2 Article 11 hereof must apply for changes to listing.

1.2. If the acquiring enterprise is not yet listed on HOSE, it shall abide by Article 6 and Article 7 hereof.

2. Listing of bonds by an acquiring enterprise and listing of fund certificates by a public fund after the merger shall abide by Article 6 and Article 7 hereof.

What are listing requirements of stocks issued by a listed enterprise for swap for stocks on Ho Chi Minh Stock Exchange in Vietnam?

In Article 14 of the Regulations on listing of securities on Ho Chi Minh Stock Exchange, issued together with Decision 85/QD-SGDHCM in 2018, there are regulations on listing requirements of stocks issued by a listed enterprise for swap for stocks on Ho Chi Minh Stock Exchange as follows:

1. A listed enterprise is allowed to apply for additional listing of stocks issued for swap if it attains a minimum ROE at 05% after the swap.

2. If the listed enterprise does not meet the requirement in Clause 1 of this Article:

2.1. If the additional issuance of shares for swap does not result in an increase in the paid-in charter capital by more than 50% (compared to that before issuance), additionally issued shares shall only be eligible for additional listing one (01) year after the completion of the swap.

2.2. If the additional issuance of shares for swap results in an increase in the paid-in charter capital by more than 50% (compared to that before issuance), shares issued by the listed enterprise after the swap shall be compulsorily delisted.

3. If an enterprise that is subject to the compulsory delisting as regulated in Points h, k, l and m Clause 1 Article 60 of Decree No. 58/2012/ND-CP enters into the issuance of shares for swap, the listed enterprise is, after the swap, allowed to apply for changes to listing upon its satisfaction of requirements for listing of securities on HOSE in Article 53 of Decree No. 58/2012/ND-CP and Clause 15 Article 1 of Decree No. 60/2015/ND-CP.

What is application for listing of stocks issued by a listed enterprise for swap for stocks on Ho Chi Minh Stock Exchange in Vietnam?

In Article 15 of the Regulations on listing of securities on Ho Chi Minh Stock Exchange, issued together with Decision 85/QD-SGDHCM in 2018, there are regulations on application for listing of stocks issued by a listed enterprise for swap for stocks on Ho Chi Minh Stock Exchange as follows:

An application for listing submitted by a listed enterprise that performs a stock swap shall conform to Clause 4 and Clause 5 Article 9 of Circular No. 202/2015/TT-BTC and include the documents specified in Appendix 1 enclosed herewith.

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