Vietnam Eases IPO Requirements From March 2027
Vietnam’s National Assembly passed amendments to the Securities Law on November 13. From March 1, 2027, companies making an initial public offering will no longer have to meet the current requirement to sell a specified proportion of shares to investors. The amendments also simplify filing requirements and introduce a controlled testing mechanism for the securities sector.
Vietnam’s National Assembly passed amendments to the Securities Law on the morning of November 13, 2026, with 92.6% of participating lawmakers voting in favor. The amendments take effect on March 1, 2027. From then, companies conducting initial public offerings (IPOs) will no longer have to meet a requirement to sell a specified proportion of shares to investors.
Current rules require companies to sell at least 15% of their voting shares to at least 100 investors who are not major shareholders. The minimum falls to 10% when an issuer’s registered capital reaches VND 1 trillion. The new law removes the requirement for companies to commit to that share sale threshold in their IPO filings. Issuers will also no longer have to submit an audited report on how proceeds from their most recent offering were used within the two years before filing.
Finance Minister Ngô Văn Tuấn presented the amendments before the vote. The new law also introduces a controlled testing mechanism in the securities sector, allowing regulators to test new technology applications, products, services and business models not yet covered by law on a limited basis. Participating organizations and individuals will be responsible for their own activities; the government will set detailed rules on testing procedures, risk controls and the handling of results.
Vietnamese Finance Minister Ngô Văn Tuấn presents the Securities Law amendments on the morning of November 13.（VietVance）
The National Assembly also passed a resolution approving the 2025 final state budget accounts that day, with 91.6% of participating lawmakers voting in favor. According to the resolution, balanced budget revenue in 2025 exceeded VND 4.26 quadrillion, while expenditure exceeded VND 4.56 quadrillion. The budget deficit was about VND 400.163 trillion, or 3.1% of GDP. Total budget borrowing to cover the deficit and repay loan principal exceeded VND 763.9 trillion.
Vietnamese National Assembly delegates attend the morning session on November 13.（VietVance）
Source: VietVance
