There will be a conference to remove obstacles for IPO activities associated with listing in March.

There will be a conference to remove "obstacles" in IPO activities associated with listing in March

The conference with 500-600 delegates from businesses and consulting units will sit together to share regulations as well as discuss difficulties, aiming to shorten this process.

Sharing at the seminar "Stock Market: Building the foundation - Accumulating - Accelerating" organized by Investment Newspaper on March 5, Ms. Pham Thi Thuy Linh, Deputy Director of the Department of Stock Market Development, State Securities Commission (SSC) said that they are working with the Stock Exchange to develop a coordination regulation to help shorten the time of the stages after enterprises complete their initial public offering (IPO), listing/registration for trading and return to a single reporting point.

At the Conference on deploying the task of developing the stock market in 2024 chaired by the Prime Minister at the end of February 2024, one of the key solutions in 2024 is to continue to diversify products on the market, encourage public offerings and issuance activities and link initial public offerings (IPOs) with listing and registration for trading on the Stock Exchange; improve the capacity and financial safety of the securities business organization system through continuing to restructure securities companies and fund management companies, while strengthening management, supervision and rectification of the activities of securities business organizations to ensure compliance with legal regulations.

Ms. Pham Thi Thuy Linh, Deputy Director of Securities Market Development Department, State Securities Commission

Ms. Linh said that despite facing many difficulties in 2023, capital mobilization activities of enterprises through the stock market increased by 34% compared to the previous year. Capital mobilization channel through the stock market is a channel that helps enterprises mobilize long-term capital for production and business activities. At the same time, the reputation of enterprises is also enhanced, thereby attracting capital flows from domestic and foreign investors.

To support capital mobilization, the State Securities Commission is reviewing Decree 155/2020/ND-CP guiding the Securities Law, focusing on regulations on offering, listing, and trading registration activities.

“Recently, we have noticed that IPO activities associated with listing/registration for trading have some problems that cause the time to be extended. After the enterprise conducts the IPO, the Stock Exchange will carry out the steps of checking the content to put it up for listing/registration for trading. Currently, the State Securities Commission and the Stock Exchange are jointly developing regulations to coordinate to help shorten the time for the steps after IPO and listing, and to bring one focal point to consider one issue,” said the Deputy Director of the Securities Market Development Department.

During the review of the IPO dossier, the representative of the State Securities Commission said that sometimes the issuer and the consulting unit have different understandings. In March, the State Securities Commission will organize a conference in both regions to invite businesses in need of capital mobilization and consulting organizations to share regulations as well as discuss difficulties from the business side.

Ms. Linh also emphasized that when businesses conduct IPOs, they must have standard documents so that the Stock Exchange can review the documents as quickly as possible.

“We expect this to be the fastest conference to support organizations in need of capital mobilization in 2024-2025. The conference is expected to have a scale of 500-600 delegates from various units”. With 2024-2025 being considered a pivotal year, the need for capital mobilization is there, the conference will be a place to share difficulties to shorten this process.

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