Late submission of financial reports, a series of stocks were warned by HoSE

Recently, the Ho Chi Minh City Stock Exchange (HoSE) has just announced information on handling violations of a series of stocks IBC of Apax Holdings, CKG of Kien Giang Construction Investment Consulting Group Corporation and TGG of The Golden Group Corporation.

Accordingly, the three stocks IBC, CKG and TGG were put on warning status from September 27, 2023 because the listed organization was late in submitting the audited semi-annual financial report for 2023 more than 15 days after the prescribed deadline, and are securities subject to warning according to the provisions of Point g, Clause 1, Article 37 of the Regulations on listing and trading of listed securities issued together with Decision No. 17 dated March 31, 2022 of the Board of Members of the Vietnam Stock Exchange.

In addition, TGG shares of The Golden Group are still subject to trading suspension under Decision No. 545 dated September 11, 2023 of HoSE because the company continues to violate regulations on information disclosure on the stock market after being placed on the restricted trading list. TGG shares are also subject to control under Decision No. 306 dated May 31, 2021 of HoSE.

Finance - Banking - Late submission of financial reports, a series of stocks were warned by HoSE — TGG stock price movements in the past month (Photo: FireAnt).

Immediately after the information about the stock being suspended from trading, The Golden Group issued a document explaining the remedial measures. Accordingly, the company is trying to coordinate with UHY Auditing and Consulting Company Limited to complete the 2022 Audited Financial Report and the 2023 Reviewed Financial Report as soon as possible.

The audit of the Financial Statements is being conducted and the Company will announce the information immediately after the audit results are available. However, although the Company has proposed solutions, TGG shares continue to plummet. At the end of the session on September 21, TGG stopped at the "iced tea" price of VND 2,370/share.

On the same day, TTB shares of Tien Bo Group Corporation were also put under control by HoSE for the same reason that the listed organization was late in submitting the audited semi-annual financial report for 2023 more than 30 days later than prescribed.

Thu Huong

Source