What are regulations on compulsory delisting of stocks and investment certificates in Vietnam?
What are regulations on compulsory delisting of stocks and investment certificates in Vietnam? What are procedures for voluntary delisting of stocks and investment certificates in Vietnam? What are regulations on re-listing of stocks and investment certificates in Vietnam? What are regulations on the reporting obligations of listed securities organizations in Vietnam?
What are regulations on compulsory delisting of stocks and investment certificates in Vietnam?
Based on Article 46 of the Listing and Trading Rules for Listed Securities issued together with Decision 17/QĐ-HĐTV in 2022, the regulations on compulsory delisting of stocks and investment certificates are as follows:
1. Shares of listed organizations are subject to compulsory delisting in accordance with Clause 1, Article 120 of Decree No. 155/2020/ND-CP, in case the listed organization is a foreign issuer in Vietnam, it is subject to delisting in accordance with Article 125 of Decree No. 155/2020/ND-CP.
2. Closed-end investment certificates, real estate investment funds, exchange-traded funds, and investment securities companies are subject to compulsory delisting in accordance with Clause 3, Article 120 of Decree No. 155/2020/ND-CP and in accordance with Clause 1, Article 104 of the Securities Law.
3. The Stock exchanges will notify the listed organization and announce the information to the market when it discovers that the listed stock has the potential to be compulsorily delisted in accordance with the provisions of points a, b, d, e, h, i, o, Clause 1, Article 120 of Decree No. 155/2020/ND-CP and request the listed organization to report and explain specifically (if necessary).
4. The Stock exchanges will issue a decision to delist and announce information about the delisting.
5. Listed securities subject to compulsory delisting are allowed to continue trading for a maximum period of 30 days from the date on which the Stock exchanges issue the delisting decision, except for cases of delisting in accordance with Clause 4, Article 120 of Decree No. 155/2020/ND-CP.
6. Listed securities that have been delisted but still meet the conditions of a public company must be registered for trading on the Stock exchanges' trading system in accordance with the provisions of Article 133 of Decree No. 155/2020/ND-CP, except for cases of delisting in accordance with the provisions of points a, c, g, Clause 1, Article 120 of Decree No. 155/2020/ND-CP.
What are regulations on compulsory delisting of stocks and investment certificates in Vietnam? - Source: Internet
What are procedures for voluntary delisting of stocks and investment certificates in Vietnam?
Based on Article 47 of the Listing and Trading Rules for Listed Securities issued together with Decision 17/QĐ-HĐTV in 2022, the regulations on voluntary delisting of stocks and investment certificates are as follows:
1. The conditions for voluntary delisting are carried out in accordance with Clause 1, Article 121 of Decree No. 155/2020/ND-CP.
2. The application for voluntary delisting is carried out in accordance with Clause 3, Article 121 of Decree No. 155/2020/ND-CP and Appendix I attached to this Regulation. If necessary, the Stock exchanges will seek the opinion of the Vietnam Securities Depository Center (VSD) or the State Securities Commission (SSC) and will only consider delisting after receiving the opinion from the VSD or the SSC.
3. The procedures for voluntary delisting are carried out in accordance with Clause 4, Article 121 of Decree No. 155/2020/ND-CP.
4. The Stock exchanges will announce the information on the approval or rejection of the application for voluntary delisting by the listed organization.
What are regulations on re-listing of stocks and investment certificates in Vietnam?
According to Article 48 of the Listing and Trading Rules for Listed Securities issued together with Decision 17/QĐ-HĐTV in 2022, the regulations on re-listing of stocks and investment certificates are as follows:
1. An organization whose shares have been delisted in accordance with Article 120 or Article 121 of Decree No. 155/2020/ND-CP may apply for re-listing in accordance with Clause 1, Article 122 of Decree No. 155/2020/ND-CP.
2. The conditions, documents, and procedures for re-listing are carried out in accordance with Articles 110 and 111 of Decree No. 155/2020/ND-CP and the provisions of this Regulation.
What are regulations on the reporting obligations of listed securities organizations in Vietnam?
According to Article 49 of the Listing and Trading Rules for Listed Securities issued together with Decision 17/QĐ-HĐTV in 2022, the reporting obligations of listed securities organizations are regulated as follows:
1. If a bond is delisted in accordance with Clause 5, Article 120 of Decree No. 155/2020/ND-CP, the bond of a listed organization that is a foreign issuer is delisted in accordance with Article 125 of Decree No. 155/2020/ND-CP.
2. The Stock exchanges will notify the listed organization and announce the information to the market when it discovers that a listed bond is likely to be delisted in accordance with Clause 5, Article 120 of Decree No. 155/2020/ND-CP and request the listed organization to report and explain (if necessary).
3. The Stock exchanges will issue a Decision to delist the bond and announce the information about the delisting.
Best regards!
