UPCOM
UPCOM is the trading platform for unlisted public companies.
Market Information
| Metric | Value |
|---|---|
| Exchange | HNX (operated) |
| Launch date | June 24, 2009 |
| Companies | 850+ |
| Purpose | Pre-listing market |
Current Statistics (2024)
| Metric | Value |
|---|---|
| UPCOM-Index | ~95 |
| Market cap | $25+ billion |
| Average daily volume | $50M+ |
Key Features
| Feature | Description |
|---|---|
| Listing | Lower requirements |
| Transparency | Less stringent |
| Liquidity | Generally lower |
| Price limits | ±15% |
Notable UPCOM Stocks
Some large companies trade on UPCOM before formal listing:
- State-owned enterprises post-equitization
- Companies preparing for HOSE/HNX listing
UPCOM vs Listed Markets
| Aspect | UPCOM | HOSE/HNX |
|---|---|---|
| Requirements | Lower | Higher |
| Reporting | Quarterly | Quarterly |
| Price limits | ±15% | ±7%/±10% |
| T+ settlement | T+2 | T+2 |
Upgrade Path
Many UPCOM companies eventually list on HOSE or HNX.