04 cases of delisting of public companies from February 15, 2021 in Vietnam

Duc Thao

11:00, 16/01/2021

Recently, the Ministry of the Finance of Vietnam issued the Circular No. 118/2020/TT-BTC providing guidance on offering and issuance of securities, tender offer, share repurchase, registration and delisting of public companies.

According to Article 8 of the Circular No. 118/2020/TT-BTC of the Ministry of Finance of Vietnam, there are 04 cases of delisting of public companies, including:

- Delisting of a public company due to full division, consolidation, merger (the public company is an acquired company), dissolution or bankruptcy;

- Delisting of a public company in case of revocation of enterprise registration certificate (the State Securities Commission of Vietnam shall consider delisting the public company within 180 days from the receipt of the report on the revocation of the enterprise registration certificate);

- Delisting of a public company due to partial division or merger (the public company is the acquiring company);

- Delisting of a public company due to conversion of a joint-stock company into a limited liability company.

More details at the Circular No. 118/2020/TT-BTC of the Ministry of Finance of Vietnam, takes effect from February 15, 2021 and replaces the Circular No. 162/2015/TT-BTC.

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