HOSE delists Sao Thái Dương (SJF) shares from 1 November. — Photo anninhthudo.vn

The Hồ Chí Minh Stock Exchange (HOSE) has announced the mandatory delisting of SJF shares of Sao Thái Dương Investment Joint Stock Company, despite the company’s request to extend the deadline for submitting its reviewed financial statements.

According to HOSE’s decision, 79.2 million SJF shares, valued at VNĐ792 billion based on face value, will be delisted due to a severe violation of information disclosure obligations, which falls under mandatory delisting criteria.

The delisting will be effective from 1 November 2024, with the final trading date set for 10 November, as SJF shares were suspended from trading on 13 November 2023.

Previously, on 24 October 2024, the cosmetic and pharma company Sao Thái Dương submitted an official letter to the State Securities Commission and HOSE requesting an extension for submitting its reviewed financial statements until 8 November 2024. The company cited the need to gather and provide necessary documents to the audit firm for reviewing its semi-annual 2024 financial statements and auditing the 2024 annual financial statements.

Sao Thái Dương appealed to HOSE to reconsider its decision, noting that delisting would directly impact the rights of over 6,600 shareholders and company employees. However, this request was denied and the mandatory delisting of SJF shares will proceed.

Regarding its business situation, Sao Thái Dương has faced ongoing challenges, posting consecutive losses in recent quarters. The company reported a VNĐ32.7 billion loss in Q4/2023, VNĐ3.6 billion in Q1/2024, and an additional VNĐ4.57 billion loss in Q2/2024, according to its unaudited financial statements. — VNS