Vietnam State Securities Commission publishes draft amendments to rules on securities offerings tender offers and share buybacks

The Vietnam State Securities Commission published the key contents of a draft circular amending the Ministry of Finance’s Circular 118/2020/TT-BTC, updating guidance on public offerings and issuance of securities, public tender offers, share buybacks, registration of public companies and cancellation of public company status. The draft is positioned as an alignment exercise with recent legislative and decree-level changes and as part of efforts to simplify administrative procedures and reduce compliance costs for issuers and investors. The draft would revise and supplement templates and forms used for offerings, issuance, treasury share transactions and tender offers to reflect Law 56/2024/QH15 and Decree 245/2025/NĐ-CP (which amended Decree 155/2020/NĐ-CP). It also proposes changes to requirements around amendments to share buyback plans to streamline procedures while maintaining timely and transparent disclosure, and adds provisions on handling repurchased shares under issuance rules for employee stock selection programmes as assigned in Decree 245/2025/NĐ-CP. Updates to prospectus and related reporting templates are also envisaged to reflect organisational changes and the rollout of Project 06 on population data, electronic identification and authentication.