What are regulations on voluntary delisting at the Ho Chi Minh City Stock Exchange in Vietnam?

What are regulations on voluntary delisting at the Ho Chi Minh City Stock Exchange in Vietnam?

In Article 27 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 voluntary delisting at the Ho Chi Minh City Stock Exchange as follows:

1. Conditions for voluntary delisting shall be governed by Point a Clause 2 Article 60 of Decree No. 58/2012/ND-CP as amended in Clause 20 Article 1 of Decree No. 60/2015/ND-CP; The ratio of voting by non-majority shareholders shall be determined by the number of votes casted by non-majority shareholders as stated in the enterprise’s list of shareholders with right to vote in the General Meeting of Shareholders or the list of shareholders with right to vote through written consultation.

2. The voluntary delisting may only be made at least 02 years after securities are listed on HOSE.

3. The enterprise applying for delisting as per Clause 1 of this Article must submit an application for delisting as prescribed in Appendix 1 enclosed herewith to HOSE. Where necessary, HOSE may request for opinions from SSC about an application for delisting and shall process that application after getting opinions from SSC;

4. Within fifteen (15) days from the receipt of a complete and valid application, which includes the report on the plan for settlement of shareholders' interests, HOSE shall make its decision on approval for a voluntary delisting. If an application for voluntary delisting is refused, HOSE shall specify reasons in writing.

What are regulations on voluntary delisting at the Ho Chi Minh City Stock Exchange in Vietnam? (Image from the Internet)

What are regulations on relisting at the Ho Chi Minh City Stock Exchange in Vietnam?

In Article 28 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 relisting at the Ho Chi Minh City Stock Exchange as follows:

1. An enterprise delisted as prescribed in Article 26 and Article 27 hereof can only apply for relisting 12 months after the date of delisting if it meets listing requirements in Article 53 of Decree No. 58/2012/ND-CP as amended in Clause 15 Article 1 of Decree No. 60/2015/ND-CP, except for securities delisted from HNX for approved listing on HOSE or vice versa.

2. The application and procedure for relisting shall conform to Chapter II hereof.

What are regulations on moving listing to another stock exchange at the Ho Chi Minh City Stock Exchange in Vietnam? 

In Article 29 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 moving listing to another stock exchange at the Ho Chi Minh City Stock Exchange as follows:

1. Conditions for moving listing from HOSE to another stock exchange shall be governed by Clause 8 Article 1 of Circular No. 29/2017/TT-BTC.

2. An application for moving of listing due to approved listing on another stock exchange shall be made according to Appendix 1 enclosed herewith.

3. One (01) original written set of the application for moving of listing to another stock exchange and an additional set in electronic format shall be submitted directly or by post to HOSE.

4. Upon the receipt of an application for moving of listing to another stock exchange, HOSE shall request the applicant in writing to complete or modify its application (where necessary). The applicant must modify its application at the request of HOSE.

5. Within five (05) business days from the receipt of a complete and valid application, HOSE shall decide to approve or refuse that application for moving of listing to another stock exchange. If an application is refused, HOSE shall specify reasons in writing.

6. HOSE shall publicly announce information about its approval for moving of listing to another stock exchange.

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