The Vietnam State Securities Commission held a conference to explain the legal framework and key procedural requirements for foreign-invested economic organisations to issue securities, list shares and register for trading in Vietnam, with a view to facilitating greater participation by foreign direct investment (FDI) enterprises in the domestic capital market. The briefing covered public company conversion and listing or trading registration pathways for FDI firms, IPOs conducted alongside listing registration, and rules on public company registration and loss of public company status. The Ho Chi Minh Stock Exchange and Hanoi Stock Exchange presented exchange-specific requirements for equity listing and for trading on the UPCoM system, while discussions with FDI companies raised practical questions including conversion to a joint stock company before filing an IPO dossier, reducing foreign ownership below 100%, the ability to publicly issue other securities such as bonds, audit evidence for paid-in charter capital, and whether IPO and listing dossiers must include a valuation report from a licensed appraiser. The Commission also referenced ongoing engagement with ministries and reporting to the Government and the Ministry of Finance to address obstacles affecting FDI listings.
Vietnam State Securities Commission 2025-12-09
Vietnam State Securities Commission briefs foreign-invested enterprises on IPO, listing and trading registration requirements
The Vietnam State Securities Commission held a conference to clarify the legal framework for foreign-invested economic organizations to issue securities and list shares in Vietnam. The event addressed pathways for public company conversion, IPOs, and trading registration, with input from the Ho Chi Minh and Hanoi Stock Exchanges. Discussions included joint stock company conversion, foreign ownership limits, and IPO dossier requirements.