Frequently asked questions

There are 2 stock echanges in Vietnam: Hanoi Stock Exchange (HNX) and Ho Chi Minh City Stock Exchange (HOSE).

1. Listing requirements of Ho Chi Minh City Stock Exchange

a. Charter Capital

• Upon a company’s registration for listing, its charter capital must be at least 120 billion VND according to auditted report.
• Requirements about a company’s operation time and its financial performance:
  • The company must operate under the form of a joint stock company for at least 2 years;
  • The company’s net income for the last 2 years must be positive;
  • The company’s latest return on equity (ROE) upon registration for líting must be at least 5%;
  • The company must not have an overdue debt dating from a year before registering for listing;
  • Upon listing registration, the company must not have accumulative loss.

b. Shareholder structure

• At least 20% of shares with voting rights must be held by at least 300 shareholders, and none of them are major ones.

c. Other listing requirements

• Major shareholders, institutional and individual shareholders must commit to holding 100% of the shares within the first 6 months and 50% of the shares for the next 6 months. This condition does not apply to state-owned shares.
• The company’s shares have been traded on UPCOM for at least 2 years. This condition does not apply to IPO and equitization cases.
• The listing documents must be eligible according to HOSE’s regulations.

2. Listing requirements of HNX

a. Charter capital

• Upon a company’s registration for listing, its charter capital must be at least 30 billion VND according to auditted report;
• Requirements about a company’s operation time and its financial performance:
  • The company must operate under the form of a joint stock company for at least 1 year;
  • The company’s net income in the latest year must be positive;
  • The company’s latest return on equity (ROE) upon registration for líting must be at least 5%;
  • The company must not have an overdue debt dating from a year before registering for listing. Besides, the company must not have accumulative loss;
  • The company is not subject to any violations of law or any accounting, financial reporting issues.

b. Shareholder structure

• At least 15% of shares with voting rights are held by at least 100 shareholders who are not major shareholders.

c. Other listing requirements of HNX

• Major shareholders, institutional and individual shareholders must commit to holding 100% of the shares within the first 6 months and 50% of the shares for the next 6 months;
• The company’s shares have been traded on UPCOM for at least 2 years and the general meeting of shareholders approved the listing. This condition does not apply to IPO and equitization cases;
• The listing documents must be eligible according to HNX’s regulations.