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

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

In Article 16 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 of stocks issued by a listed enterprise for swap for stocks on Ho Chi Minh Stock Exchange as follows:

The listed enterprise that issues shares for swap as prescribed in Clause 1 and Point 2.1 Clause 2 Article 14 hereof shall follow the procedures for changes to listing in Article 20 hereof. The time limit for processing of an application is provided for as follows:

1. 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.

2. Within six (06) months from the completion of the swap, the listed enterprise that performs the stock swap and meets requirements in Clause 1 Article 14 hereof must submit an application for changes to listing for listing of shares additionally issued for swap.

3. Within one (01) month following one (01) year after the completion of the swap, the listed enterprise that performs the stock swap and meets requirements in Point 2.1 Clause 2 Article 14 hereof must submit an application for changes to listing for listing of shares additionally issued for

What are cases of changes to stocks listing on Ho Chi Minh Stock Exchange in Vietnam?

In Article 17 of the Regulations on listing of securities on Ho Chi Minh Stock Exchange, issued together with Decision 85/QD-SGDHCM in 2018, there are provisions on cases of changes to stocks listing on Ho Chi Minh Stock Exchange are as follows:

1. A listed enterprise performs a stock split, reverse stock split or bonus issue or offers additional shares for increasing its share capital by using the owner's equity or offers share purchase rights to existing shareholders for increasing its charter capital;

2. An investment fund issues additional fund certificates to existing investors by offering rights to purchase fund certificates or for paying out yields to investors by fund certificates.

3. A listed enterprise does a private placement, secondary or subsequent offerings or issues shares to an employee stock ownership plan (ESOP);

4. A listed enterprise is partially divided or acts as an acquirer in an acquisition transaction;

5. A listed enterprise converts bonds into shares/ repurchases bonds before maturity but is not subject to delisting as regulated in Point a Clause 1 Article 60 of Decree No. 58/2012/ND-CP;

6. A listed enterprise issues shares for swap for shares or stakes in other enterprises or debt conversion with a creditor.

7. ETF certificates are additionally issued/ redeemed through an exchange.

8. A listed enterprise makes a capital reduction as regulated in Point a Clause 5 Article 111 of the Law on enterprises in 2014 but is not subject to compulsory delisting after the capital reduction as regulated in Clause 1 Article 60 of Decree No. 58/2012/ND-CP as amended in Clauses 20 and 24 Article 1 of Decree No. 60/2015/ND-CP.

9. Changes to listing are also made in other cases where the volume of securities listed on HOSE is changed.

What is application for changes to stocks listing on Ho Chi Minh Stock Exchange in Vietnam? 

In Article 18 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 changes to stocks listing on Ho Chi Minh Stock Exchange as follows:

1. An application for changes to listing on HOSE shall conform to Clause 2 Article 59 of Circular No. 58/2012/ND-CP, Clause 19 Article 1 of Decree No. 60/2015/ND-CP and Appendix 1 enclosed herewith.

2. One (01) original written set of the application for changes to listing (either original documents or legitimate copies thereof) and one (01) additional set in electronic format shall be submitted.

3. In case of bonus issue or offering of additional shares for increasing the share capital by using the owner's equity or to an ESOP, the listed enterprise is required to apply for changes to listing within fifteen (15) days from the date on which it receives a notice of issuance results from SSC.

4. In case of public offerings or private placement, except offering of shares for swap in an acquisition transaction as prescribed in Article 11 hereof and stock swap as prescribed in Article 14 hereof, the listed enterprise is required to apply for changes to listing within thirty (30) days from the completion of the public offering or private placement.

5. With regard to investment funds/securities investment companies, within thirty (30) days from the effective date of the modified certificate of fund establishment registration or the modified license for establishment and operation of securities investment company, the fund management company or the Board of Directors of the securities investment company is required to prepare and submit a complete application for changes to listing of fund certificates/ shares to HOSE.

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