Bamboo Capital shares restricted from trading after former leader is prosecuted

Ho Chi Minh City Stock Exchange (HOSE) has just announced listing BCG shares of Bamboo Capital Group Corporation The company has been restricted from trading since May 27 because it was 45 days late in submitting its audited financial statements for 2024, compared to the prescribed deadline.

Previously, BCG shares were put under control by HOSE since May 13. HOSE also sent a letter to Bamboo Capital, reminding them of the delay in announcing the financial report for the first quarter of 2025.

Bamboo Capital's BCG shares are restricted from trading

PHOTO: DAO NGOC THACH

According to the new regulations after applying the new information technology system, restricted stocks such as BCG can still be traded all day, but the method of periodic order matching is applied many times, each session lasts 15 minutes and trading during the periodic order matching session determines the closing price.

In the explanatory letter, Bamboo Capital said that in the past, the group has experienced many changes related to major shareholders and personnel at the company and its member companies, leading to interruptions in the implementation of financial reports due to investigation work. The company is still in the process of completing financial reports. Up to now, only 4.45 companies have completed the issuance of reports. Therefore, the company has not been able to issue the audited consolidated financial statements within the prescribed time. The audited consolidated financial statements for 2024 are expected to be issued in early September.

According to the self-made report for the fourth quarter of 2024, the accumulated revenue for the whole year of 2024 was VND 4,372 billion, and the profit after tax was VND 845 billion, respectively increasing by 9% and 394% compared to the results in 2023.

On the market, BCG shares fell below VND3,000, down nearly 50% compared to the end of February - the time before former Chairman of the Board of Directors Nguyen Ho Nam was prosecuted (announced in early March). Immediately after that, Bamboo Capital affirmed that the company's operations were still going on normally because Mr. Nguyen Ho Nam had resigned and no longer held any positions at the company since April 27, 2024.

In addition to Mr. Nam, several key leaders at the subsidiaries were also prosecuted, such as Ms. Huynh Thi Kim Tuyen - Vice Chairwoman of the Board of Directors of BCG Land Joint Stock Company and Deputy General Director Le Nong. Ms. Huynh Thi Kim Tuyen is also Vice Chairwoman of the Board of Directors of Tracodi and a member of the Board of Supervisors of BCG Energy (BGE).

Source: https://thanhnien.vn/co-phieu-bamboo-capital-bi-han-che-giao-dich-sau-khi-cuu-lanh-dao-bi-khoi-to-185250523111502949.htm