Shorten the time for initial public offerings

Many new regulations on stock offerings and public issuance have been changed.

On the morning of October 16, the State Securities Commission (SSC) in coordination with the JICA Project organized a "Conference to disseminate the amended and supplemented contents of the Securities Law and detailed implementing regulations" in Ho Chi Minh City. Some new regulations related to stock offering activities, creating favorable conditions for units participating in the stock market.

Conference to disseminate new regulations related to stock offering and issuance

PHOTO: Contributor

Law No. 56/2024 officially took effect from the beginning of 2025, together with Decree No. 245 issued by the Government on September 11, 2025, creating many important changes in securities offering and issuance activities. The new regulations aim to increase transparency, enhance the responsibility of issuers, protect investors and simplify administrative procedures.

Mr. Hoang Van Thu - Vice Chairman of the State Securities Commission said that the new contents on public company registration and initial public offering (IPO) associated with stock listing are breakthroughs in the newly issued regulations. In addition, the new law has also eliminated many procedures, simplifying administrative procedures. Specifically, the law adds documents reporting on contributed charter capital. On that basis, Decree 245 removes the document "reporting on owner's capital contribution in case the dossier is submitted after the most recent accounting period and is audited or reviewed". At the same time, it adds regulations that the Stock Exchange will simultaneously review the listing registration dossier with the process of the State Securities Commission reviewing the IPO dossier. This helps shorten the time for IPOs associated with listing of enterprises. Previously, the regulations on offering required distribution within 90 days (can be extended by 30 days, for a total of 120 days). After that, the new enterprise must register and complete listing procedures within 30 days, making the time from the enterprise's IPO to the time it is listed on the stock exchange too long.

Regarding the IPO of a company after the restructuring process, Decree 245 clarifies the term “corporate restructuring” in the case of business acquisition and asset sale. The Decree also supplements regulations on the conditions and documents for the IPO of a company after the restructuring, according to which the company must prepare a consolidated financial information report according to the convention.

Regarding the public offering of additional shares, the new law removes the requirement that the number of shares sold to investors must reach at least 70% of the number of shares expected to be offered in the case of offering to existing shareholders according to the ownership ratio... The Vice Chairman of the State Securities Commission hopes that the detailed regulations will soon come into effect, contributing to promoting sustainable market development, in accordance with the goals set by the Party and the Government.

Source: https://thanhnien.vn/rut-ngan-thoi-gian-chao-ban-co-phieu-lan-dau-ra-cong-chung-185251016154905927.htm