Log in
Business

FLC stocks subject to transaction suspension

FLC has not held annual shareholder meeting, disclosed an audited financial statement for 2021, or selected an auditor for this year’s version.

FLC shares are subject to transaction suspension due to the corporation’s failure in addressing violations of information disclosure regulations.

 FLC shares are subject for transaction suspension on the stock market. File photo

The Ho Chi Minh City Stock Exchange (HoSE) said trading of the FLC's share would be suspended in a document sent to the FLC group.

According to HoSE, to date, FLC has not yet held annual shareholder meeting, disclosed an audited financial statement for 2021, or selected an auditor for this year’s version.

As FLC shares are currently under limited transaction status (only allowed to be sold/purchased in the evening session) since June 1 due to a delay in submitting an audited financial statement, a heavier penalty would be transaction suspension.

The stock market authority, however, has not provided information over the suspension period.

Shares of the HAI Agrochem Company, another company linked with the FLC Group, have also received a warning for transaction suspension due to a similar reason.

In this case, both are requested to submit a plan to hold annual shareholder meetings and select auditors before August 19.

At the close of yesterday’s session, shares of FLC and HAI dropped to their respective floor prices, losing respective 6.8% and 6.9% from the previous session, as negative information surrounding the corporation had an impact on investors' decisions.

Trading of another share of FLC Faros was previously suspended from August 12, due to a violation in information disclosure of the financial statement report in the second quarter.

FLC has reshuffled its management board after the arrest of its CEO Trinh Van Quyet and other high-ranking officials for alleged stock market manipulation and hiding information.

The corporation’s business performance, however, remains on the downside with an after-tax loss of VND640 billion (US$27.3 million) in the second quarter, taking the accumulated loss in the first half of the year to VND1.1 trillion ($47 million).

Reactions:
Share:
Trending
Most Viewed
Related news
Financials, banks push Vietnamese stock market up for fourth day

Financials, banks push Vietnamese stock market up for fourth day

On July 2, the Vietnamese stock market rallied for a 4th consecutive day, thanks to momentum from banks and financial companies.

Vietnam, US leaders' phone call focuses on tariff deal

Vietnam, US leaders' phone call focuses on tariff deal

Vietnam Party Chief To Lam and US President Donald Trump expressed their delight at the strong and positive development of bilateral relations.

Bac Ninh’s leader sells tons of lychee via livestream

Bac Ninh’s leader sells tons of lychee via livestream

The participation of the provincial leader shows the unity among officials and people of Bac Ninh Province in using e-commerce and electronic solutions to sell local farm produce.

Vietnamese firms develop AI-powered 5G traffic cameras

Vietnamese firms develop AI-powered 5G traffic cameras

The partnership between Viettel High Tech and Bien Bac will bring AI-powered 5G cameras into use, improving the traffic in Vietnam.

VPSF 2025 is scheduled for Q3 to advance private economy

VPSF 2025 is scheduled for Q3 to advance private economy

The Vietnam Private Economic Forum (VPSF) 2025 is one of key activities to propel Vietnam into a new era and realize its vision of becoming a developed, high-income country by 2045.

Vietnam debuts EcoHub to advance green B2B supply chains

Vietnam debuts EcoHub to advance green B2B supply chains

EcoHub, Vietnam's first green B2B e-commerce platform, is expected to become a trusted marketplace for Vietnamese businesses.

Mobifone partners with Techcombank in digital payment 

Mobifone partners with Techcombank in digital payment 

The venture, with a charter capital of VND300 billion (US$12.8 million), aims to leverage the strengths of its founders to offer advanced payment solutions.

Vietnamese stock market extends gain

Vietnamese stock market extends gain

The rise on the morning of July 2 was largely contributed by some banks and securities firms.