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A series of stocks to be delisted and temporarily suspended

Thursday 21, 05 2020
Previously, a series of businesses were forced to delist.
A series of stocks to be delisted and temporarily suspended

The Stock Exchange has just announced a series of decisions related to the listing of shares being delisted and suspended trading for various reasons.

PVX shares were delisted on HNX

On 12th May 2020, Hanoi Stock Exchange decided to cancel the listing of all 400 million PVX shares of PetroVietnam Construction Joint Stock Corporation from 9th June 2020. The last trading session on HNX will be on 8th June 2020.

The reason was that the auditor refused to give opinions to the Corporation's separate and consolidated financial statements in 2019 because of its 11 issues, making Deloitte unable to gather sufficient evidence to make a conclusion in the case of compulsory delisting.

In addition, PVX suffered from consecutive losses in all three years of 2017, 2018, and 2019, bringing the total of undistributed losses by 31st December 2019 to 3,898 billion VND.

In 2020, PVX aims to achieve 1,700 billion VND in consolidated revenue, trying to minimize losses. Meanwhile, in the first quarter of 2020, PVX reached 265 billion VND in revenue, decreasing by 57% over the same period. At the same time, it recorded a loss of over 40 billion VND in Q1. The loss recorded for parent company's shareholders was nearly 28.5 billion

DNY shares were delisted on HNX

The Hanoi Stock Exchange also decided to cancel the listing of nearly 27 million DNY shares on the HNX from 5th June 2020. DNY will trade the last session on HNX on 4th June 2020. The reason for delisting is due to the auditor's refusal to give an opinion on the financial statements of 2019.

HTT stock was temporarily suspended from trading on HoSE

Ho Chi Minh City Stock Exchange decided to put all 20 million HTT shares of Ha Tay Trading JSC into trading suspension from 22nd May 2020. The reason was that Ha Tay trade continued to violate regulations on information disclosure on the stock market after being placed under special control.

Previously, HTT stock was put under special control starting from 21st October 2019. In addition, the Ho Chi Minh City Stock Exchange also sent a second reminder letter to Ha Tay Trade about the slow publication of the Q1 / 2020 financial statements.

Also related to the slow publication of information, on 31st March 2020, Ha Tay Trade had a written explanation about the slow announcement of the Financial Statements in 2019. Accordingly, due to the complicated situation of the Covid-19 epidemic, the connection of companies with related units and customers to collate figures and debts had been difficult. This led to the fact that the company could not reach financial statements.

The figures on the company's fourth-quarter financial statements show that net revenue in 2019 reached 18.5 billion, decreasing by 72% compared to 2018 and the company recorded a loss of 13.8 billion VND all year and interest of less than 1 billion VND. This loss increased the total of undistributed losses by the end of 2019 to VND 14.1 billion.

On the market, the HTT stock price has also plummeted, trading at around 820 VND / share.

There were 21 stocks temporarily suspended on Upcom

On Upcom, the Hanoi Stock Exchange has announced to suspend trading on the Upcom system for 21 stocks due to enterprises' information disclosure delay of more than 45 days compared to the general deadline for the 2019 financial statements which was audited.

A series of stocks to be delisted and temporarily suspended

The trading suspension period is from 21st May to 25th May 2020. The Hanoi Stock Exchange will issue a notice allowing the stocks to be traded back to normal after the enterprises make information disclosure. At the end of the suspension period, the Hanoi Stock Exchange will consider applying the transaction restriction form on enterprises' stocks.

Source: https://cafef.vn/them-hang-loat-co-phieu-sap-bi-huy-niem-yet-tam-ngung-giao-dich-20200519112819072.chn

 
Categories:
Stock Market

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