HCM CITY (Biz Hub) – Huu Lien A Chau (HLA) will be delisted due to the huge losses it has suffered, the HCM City Stock Exchange has announced.
The company posted losses worth VND475 billion (US$22.3 million) last year, causing the accumulated losses to exceed its charter capital. The company has also been reminded several times about delayed disclosure of financial statements. HLA shares closed at the floor price of just VND1,700 (8 cents) yesterday.
Meanwhile, construction firm CIC Corp registered to list about 14.8 million shares on the exchange. HCM City Securities is the consulting agency for the listing. In the first nine months of 2014, CIC Corp earned VND20.25 billion ($0.95 million) in net profits, an increase of 37 per cent over the same period in 2013. — VNS