SSC issues regulation for concurrent review of IPOs and stock listing applications

On September 27, the State Securities Commission (SSC) issued Decision No.709/QD-UBCK promulgating the regulation on the coordination for concurrent review of IPOs and stock listing applications.

This marks an important step forward in administrative procedure reform, contributing to enhancing capital-raising efficiency and protecting investor rights in the securities market.

The regulation was issued to implement Article 111a of Decree No.155/2020/ND-CP (amended and supplemented by Decree No.245/2025/ND-CP).

Under this coordination mechanism, divisions under the SSC and Ho Chi Minh City Stock Exchange (HSX) will review applications according to the submitted financial statements, reports on paid-in charter capital, company charters, and other relevant documents. Thereby, the time required for post-IPO share listing is expected to be significantly shortened.

Throughout the review process, divisions under the SSC and HSX will coordinate by exchanging written communications, holding technical meetings, and sharing information on requests for amendments, supplements, explanations, or rejections of applications. Once the SSC grants a certificate of IPO registration, both the prospectus and certificate will be forwarded to HSX to proceed with the review of the listing application.

The regulation not only helps to eliminate overlapping procedures but also contributes to greater transparency and the standardisation of IPOs linked with listing processes. Companies conducting an IPO will, at the same time, be prepared for listing requirements, thereby maximising capital-raising efficiency and strengthening investor confidence.

The issuance of this regulation by the SSC is expected to play an important role in enhancing the competitiveness of Vietnam's securities market, supporting sustainable business development, and protecting the legitimate rights and interests of investors.

Vietnam's capital market is gaining strong momentum, fueled by a wave of new listings and board transfers, setting the stage for a vibrant season of initial public offerings (IPOs) ahead.

Hoa Phat Agriculture Development JSC (HPA) submitted its application for an initial public offering (IPO) to the State Securities Commission on September 16.

Vietnam's stock market is entering one of its busiest initial public offering cycles in years, with major players in securities, consumer goods, and services preparing listings to capture rising investor appetite and favorable macroeconomic conditions.