(NLĐO) - In just over a month, An Gia Real Estate was fined twice, totaling more than 725 million VND, for violations in the securities sector.
On the afternoon of January 10th, the State Securities Commission (SSC) announced the imposition of administrative penalties for violations in the securities and stock market sector on An Gia Real Estate Investment and Development Joint Stock Company (An Gia Real Estate - Stock code AGG).
Accordingly, An Gia Real Estate was fined 325 million VND in accordance with point b, clause 4, Article 10 of Government Decree No. 156/2020/ND-CP dated December 31, 2020, regulating administrative sanctions in the field of securities and securities market.
Specifically, An Gia Real Estate changed its capital utilization plan, using the funds raised from the public offering of securities without the approval of the shareholders' general meeting. Accordingly, the company used VND 200 billion out of the total VND 206.87 billion raised from the 2022 offering to sign a business cooperation agreement with Western City Co., Ltd.
One of An Gia Real Estate's projects.
In addition, the State Securities Commission also applies a remedial measure by requiring the nearest General Meeting of Shareholders to approve the change in the purpose or plan for using the proceeds from the public offering of securities as stipulated.
More than a month earlier, An Gia Real Estate was also fined nearly 400 million VND for repeatedly violating regulations in the securities and stock market sector. Specifically, the company violated regulations by failing to disclose information as required, violating regulations on transactions with shareholders, corporate managers, and related parties over many years, and failing to sign written contracts with related parties when trading shares…
AGG's share price closed at 15,050 VND/share on January 10th, down more than 10% compared to a month earlier.
Source: https://nld.com.vn/bat-dong-san-an-gia-lien-tuc-bi-xu-phat-196250110224326873.htm
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