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New rule, portal developed for corporate bond market
The Ha Noi Stock Exchange (HNX) has issued a new rule to run the corporate bond portal to publicise bond deals and give investors more news about the market.
The rule is applied to all joint-stock and limited-liability companies and all individuals and organisations involved in the corporate bond market, both domestic and international.
The portal has been developed upon Decree 163/2018/ND-CP dated December 4, 2018, to receive companies’ filings on their bond issuance.
Since April 2019, companies have publicised the details of their bond deals on the HNX’s website during the development of the portal.
The content posted on the portal includes pre-issuance information disclosure, disclosure on bond conversion and bond buyback, and issuance reporting to serve investors’ need for information and the Ministry of Finance’s request on statistics and data collection.
Companies have to send information to the HNX to be posted on the portal and they are held accountable for the accuracy, transparency and punctuality of the disclosures.
The HNX assesses the filings in three working days and the regulator can ask companies to change the filings. The disclosures are posted on the portal within five days of the final edition being approved.
The HNX will report every six months and every year to the Ministry of Finance and the State Securities Commission on the Vietnamese corporate bond market with companies issuing bonds in both domestic and international markets.
Total corporate bond issuances in the first six months of the year were worth VND159 trillion (US$6.89 billion), up 50 per cent year-on-year with banks and real estate companies the biggest issuers.
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