HNX takes a series of stocks off the market and delists them. Illustration.
The Hanoi Stock Exchange (HNX) has just decided to put a series of stocks on alert and delist them.
Accordingly, HNX announced the mandatory delisting of HTP shares of Hoa Phat Joint Stock Company for Publishing Textbooks from July 29, 2024, with the last trading date on HNX being July 26, 2024.
HNX said the reason for the delisting was that HTP shares failed to meet the listing requirements due to corporate restructuring, falling under the case of mandatory delisting as stipulated.
Earlier, on July 3, HNX decided to put HTP shares on alert for failing to hold the 2024 Annual General Meeting of Shareholders within 6 months from the end of the fiscal year.
In addition, the stock is also under control and restricted from trading from May 20, 2024. The reason is that HTP is late in submitting its 2022 and 2023 audited financial statements; at the same time, it is late in submitting its separate and consolidated audited financial statements for 2023, exceeding the prescribed time limit by more than 45 days.
In addition, the list published by HNX includes codes in the field of real estate construction such as VE2 of VNECO 2 Electric Construction Joint Stock Company, SD1 of Song Da 1 Joint Stock Company, LUT of Luong Tai Investment and Construction Joint Stock Company, LCS of Licogi 166 Joint Stock Company, C21 of The Ky 21 Joint Stock Company, TKC of Tan Ky Construction and Real Estate Trading Joint Stock Company, AMD of FLC Stone Investment and Mineral Joint Stock Company, X26 of 26 Joint Stock Company, CT3 of Investment and Construction Joint Stock Company. Construction Works 3, POM of Pomina Steel Joint Stock Company… from July 15th onwards.
The reason given by HNX is that these organizations have not held the 2024 Annual General Meeting of Shareholders within the maximum time limit from the end of the fiscal year as prescribed.
Many of these stocks are also suspended from trading, including IBC, NIM, TKC, AMD, DZM, KLF, GAB, BT6, and SD1.
In addition, a series of stocks are still restricted from trading, including VE2, LUT, LCS, LTC, PXC, SGS, ATB, PVH, PXC, PVR, CAD, and ATB, due to late submission of semi-annual financial statements for the first half of 2023, audited financial statements for 2022 and 2023, or because the auditing organization withheld opinions on the financial statements for 2021, 2022, and 2023.
In addition, PXC, CAD, and SSF stocks are restricted from trading due to negative owner’s equity in the 2022 and 2023 audited financial statements. Meanwhile, PVR and SSF are restricted from trading due to the cessation of main business production and trading activities for more than one year.
Meanwhile, SD6 stock of Song Da 6 Joint Stock Company is at risk of mandatory delisting due to the company’s unprofitability for three consecutive years from 2021 to 2023.
