Starting from July 1, 2023, the Hanoi Stock Exchange (HNX) would stop listing new stocks and all existing listed companies will switch to the Ho Chi Minh City Stock Exchange (HoSE) by December 31, 2023 at the latest.
|Hanoi Stock Exchange would stop listing new stocks from July 2023. Photo: Kinhtedothi|
The information was unveiled in a draft circular from the Ministry of Finance (MoF) in reorganization of the stock, bond and derivatives markets.
However, before July 1, 2023, the HNX continues to assess application of firms looking to list shares on the stock exchange and have registered capital of over VND30 billion (US$1.3 billion).
From January 1 to June 30, 2025, the HNX is expected to complete moving stocks from firms on the Unlisted Public Company Market (UPCoM) - operates by the HNX for public unlisted companies, to the HoSE.
The HoSE, meanwhile, would review the listing for firms with registered capital of over VND120 billion (US$5.2 million) before the deadline of July 1, 2023.
The move is in line with the government’s vision for the establishment of the Vietnam Stock Exchange (VNX) on the basis of merging the HNX and HoSE.
Under the plan, the HNX would responsible for government bond transactions and management of the derivatives market, while all shares listed in the market will be traded in the HoSE.