Specifically, in the morning session of April 17, stock price PSH hit the ceiling, with a market price of VND 4,690/share. Liquidity in the session reached nearly 19.9 million shares.
Source: VietstockFinance
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The ceiling increase of PSH was quite unexpected, in the context of this code going through 5 consecutive floor-hitting sessions. Taking into account other falling sessions, this code has been plummeting since early April 2024, with 9 consecutive falling sessions, causing the price to drop by nearly 44% at the end of the session on April 16 (VND 4,400/share).
The falling streak of PSH also led to Chairman Mai Van Huy being forced to sell shares twice since the beginning of April, totaling nearly 3.6 million shares by selling on the floor.
| Stock price PSH has plummeted since early April 2024 |
In reality, PSH has also been going through a difficult period since the tax enforcement incident in late 2023. The 2023 audited financial statements recorded an except auditor’s opinion with part of the reason being this tax enforcement, through which the stock was also put on the warning list since April 3.
Most recently, PSH continued to extend the payment of interest of approximately VND 9.7 billion for bond lot PSHH2224003 due to the company not yet balancing the cash flow to make the payment. The company proposed to extend the payment date by 1 more month, to May 7, 2024. In fact, PSH had previously extended the interest payment for this bond lot, from March 7 to April 7, also for the above reason.
PSH continues to extend bond interest payment
Bond lot PSHH2224003, with a value of VND 400 billion at face value, was issued by PSH from June 2022, and was planned to mature in June 2024. Bondholders are paid interest every 3 months with an issuance interest rate of 10%/year.
