DPC’s Shares Face Delisting From Hanoi Stock Exchange
The Hanoi Stock Exchange (HNX) has recently announced the compulsory delisting of DPC shares of Da Nang Plastic Joint Stock Company.
Accordingly, 2,237,280 DPC shares will be delisted from May 14th. The last trading day of DPC shares on HNX will be May 13th.
The delisting is due to DPC’s accumulated losses exceeding its contributed capital as of December 31st, 2023.
Da Nang Plastic Joint Stock Company was established in 1976 and operates in the manufacturing and trading of plastic equipment, materials, and products. DPC shares were first listed on the Ho Chi Minh City Stock Exchange (HoSE) in 2001. Later, DPC switched to listing on HNX in June 2009.
As per DPC’s audited financial report in 2023, the company had accumulated losses of nearly 24 billion VND by the end of 2023. Meanwhile, the company has over 2.2 million shares outstanding, corresponding to charter capital of over 22 billion VND, which is lower than the accumulated losses mentioned above. Notably, DPC has been making losses for two consecutive years, with a net loss of over 7.3 billion VND in 2023 (a loss of nearly 16 billion VND in the previous year).
In the stock market, DPC shares have been under warning for more than a year (March 26th, 2023) due to negative retained earnings after taxes in its 2022 audited financial report. With low outstanding shares, the trading volume of this code is also relatively small, with many sessions with zero liquidity.
The market price of DPC shares on the morning of April 19th, 2024, was 7,900 VND per share.
