Multiple businesses forced to delist on HoSE

Tuesday, Apr 11, 2023 09:54

Multiple businesses have been forced to delist on HoSE. — Photo courtesy of the HoSE

The HCM Stock Exchange (HoSE) has sent a document to a series of businesses requesting they delist their shares on the HoSE due to having suffered losses for three consecutive years.

Ba Ria-Vung Tau Province Construction and Urban Development Joint Stock Company (UDC) was asked to delist 35 million shares of UDC.

The reason was that its after-tax profit in 2020 was nearly negative VND10 billion; after-tax profit in 2021 was more than negative VND23 billion; after-tax profit in 2022 reached negative VND40 billion.

With losses for three consecutive years, UDC shares fell into the case of mandatory delisting according to the provisions of Decree 155/2020/ND-CP dated December 31, 2020.

SII shares of Saigon Water Infrastructure JSC were also delisted on HoSE.

In 2020, SII's after-tax profit was negative more than VND104 billion; the figure for 2021 was negative VND73 billion. In 2022, SII recorded a negative profit after tax of VND89 billion.

In addition, HoSE has also announced the mandatory delisting of HU3 shares of HUD3 Investment and Construction Joint Stock Company, MCG of Energy and Real Estate JSC; HOT code of Hoi An Tourism - Service JSC and HAI of HAI Agropharmaceuticals, a stock under FLC Group.

On April 3, 2023, HoSE sent a written reminder to HAI about the delay in disclosing the 2022 audited financial statements, however, the company has not yet disclosed the information. — VNS

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