Circular No. 115/2025/TT-BTC amends and supplements certain provisions of Circular No. 118/2020/TT-BTC dated December 31, 2020, issued by the Minister of Finance, guiding several contents regarding the issuance of securities, public offering, repurchase of shares, registration of joint-stock companies, and delisting of joint-stock companies.

Article 1. Amending and supplementing Clause 5 of Article 2 as follows:

"5. Vietnam Stock Exchange and its subsidiaries (hereinafter referred to as the Vietnam Stock Exchange), Vietnam Securities Depository and Central Counterparty Corporation and its subsidiaries."

Article 2. Amending and supplementing certain Clauses of Article 4 as follows:

1. Amending and supplementing Clause 2 of Article 4 as follows:

"2. The notice of public offering of bonds according to Model at Appendix 14 attached hereto (except for the case provided for in Clause 2a of this Article)."

Article 3. Amending and supplementing certain Clauses of Article 5 as follows:

1. Amending and supplementing Clause 2 of Article 5 as follows:

"2. Report on the results of the public offering of bonds according to Model at Appendix 22 attached hereto (except for the case provided for in Clause 2a of this Article)."

2. Supplementing Clause 2a after Clause 2 of Article 5 as follows:

"2a. Report on the results of the public offering of bonds in Vietnam by International Financial Institutions according to Model at Appendix 22A attached hereto."

3. Supplementing Clause 3a after Clause 3 of Article 5 as follows:

"3a. Report on the results of the public offering of shares to existing shareholders according to the current ownership ratio of non-public listed securities companies according to Model at Appendix 23A attached hereto."

Article 4. Amending and supplementing Article 11 as follows:

"Article 11. Change in share repurchase plan

1. Public companies shall not change their intention or plan for share repurchase as reported and publicly disclosed, except in cases of force majeure (natural disasters, epidemics, war, fire) and other cases approved by the General Meeting of Shareholders.

2. Within 24 hours from the date of decision to change the share repurchase plan, the public company must notify the State Securities Commission of the change in the share repurchase plan, and simultaneously publish information on the company's website, the information dissemination means of the State Securities Commission, and the stock exchange about the change in the share repurchase plan according to Model at Appendix 38 attached hereto.

3. Public companies may implement changes in share repurchase plans after publishing information in accordance with Clause 2 of this Article."

Article 5. Amend and supplement Article 13 as follows:

"Article 13. Reporting and Publicizing Information on Sale of Treasury Shares

A public company that repurchases its own shares in accordance with Clause 6 and Point b, Point c, Clause 7 of Article 36 of the Securities Law shall sell treasury shares as follows:

1. The public company may sell treasury shares at least 24 hours after submitting the Report on Results of Share Repurchase Transactions, the Report on Results of Share Issuance for Dividend Payment, and the Report on Share Issuance to Increase Capital from Own Funds to the State Securities Commission and publicly disclosing such information.

2. The public company must complete the sale of treasury shares within 20 working days from the date it reports to the State Securities Commission and publicly discloses information about the sale of treasury shares using the Form attached as Appendix 36 issued together with this Circular.

3. Within 10 days from the end of the treasury share sale transaction as stipulated in Clause 1 of this Article, the public company must submit the Report on Results of Treasury Share Sale Transactions to the State Securities Commission and publicly disclose such information using the Form attached as Appendix 39 issued together with this Circular."

Article 6. Amend, Supplement, and Repeal Certain Appendices of Circular No. 118/2020/TT-BTC dated December 31, 2020, guiding certain contents regarding securities offerings, issuance, public tender offers, share repurchase, registration of public companies, and revocation of public company status by the Minister of Finance.

1. Amend and supplement Appendices No. 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 35, 36, 38, 39 issued together with Circular No. 118/2020/TT-BTC dated December 31, 2020, guiding certain contents regarding securities offerings, issuance, public tender offers, share repurchase, registration of public companies, and revocation of public company status by the Minister of Finance.

Article 7. Implementation Provisions

1. This Circular takes effect from January 28, 2026.