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Instead of having to transfer all stocks traded from the Hanoi Stock Exchange (HNX) to the Ho Chi Minh City Stock Exchange (HOSE) by June 30, 2025 at the latest, the Ministry of Finance has just postponed this transfer to December 31, 2026.
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| The floor transfer has just been postponed by the Ministry of Finance to December 31, 2026. |
The Ministry of Finance has just issued Circular 69/2023 amending and supplementing a number of articles of Circular 57/2021 stipulating the roadmap for rearranging the stock trading market, bond trading market, derivatives trading market and trading markets for other types of securities.
The Ministry of Finance stated: by December 31, 2026 at the latest, the Ho Chi Minh City Stock Exchange (HOSE) will unify the organization of a market for trading stocks, fund certificates and listed warrants, and a market for registered stocks of unlisted organizations in accordance with the provisions of the Law on Securities and its implementing guidelines.
Specifically, the roadmap for restructuring the stock market according to the new circular is that before July 1, 2025 (according to Circular 57/2021, July 1, 2023), the Ho Chi Minh City Stock Exchange (HOSE) will continue to accept listing registrations from organizations that meet the listing conditions under Decree 155/2020 and have a charter capital of VND 120 billion or more. At the same time, the Hanoi Stock Exchange (HNX) will accept listing registrations from organizations that meet the listing conditions under Decree 155/2020 and have a charter capital of VND 30 billion or more.
No later than December 31, 2025 (previously December 31, 2023), HOSE will complete receiving shares of listed organizations from HNX. No later than December 31, 2026 (instead of the period from January 1, 2025 to June 30, 2025), HOSE will complete receiving shares of organizations registered for trading from HNX.
After July 1, 2025 (previously stipulated as July 1, 2023), HNX will no longer accept new listing applications, all listing activities will be transferred to HOSE. Accordingly, by December 31, 2025 at the latest (previously as December 31, 2023), HNX will transfer all listed shares to HOSE and by December 31, 2026 at the latest (previously stipulated as from January 1, 2025 to June 30, 2025), all shares registered for trading on UPCoM will be transferred to HOSE.
After completing the transfer of the organization's shares registered for trading from HNX to HOSE, HNX will not accept new trading registration applications from the organization.
Previously, according to Decision 37/2020 of the Prime Minister on the establishment, organization and operation of the Vietnam Stock Exchange (VNX), HNX will be responsible for organizing and operating the derivatives market, bond market and other securities market in accordance with the law. Meanwhile, HOSE will organize and operate the stock market and other securities market in accordance with the law.
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