Stocks are restricted from trading, what does 'Shark' Thuy say?

Apax Holdings Investment JSC (code IBC) has just issued a document explaining how to overcome the situation of restricted securities trading. According to Mr. Nguyen Ngoc Thuy (formerly known as Shark Thuy), in the recent past, the company's internal management has encountered a number of problems.

In addition, the completion of the report of the subsidiary - Apax English JSC is facing some difficulties due to lack of personnel and is in the process of restructuring, affecting the progress of completing the 2022 Financial Report of Apax Holdings.

Apax Holdings is working closely with the auditor to complete the 2022 Financial Report as soon as possible.

Mr. Thuy's business is facing many difficulties. (Photo: DT)

Mr. Thuy's company commits to disclose information with the 2022 Financial Report immediately after its issuance, and at the same time disclose information with the 2022 Annual Report and the 1st Quarter 2023 Independent Financial Report in accordance with regulations.

“In 2024, Apax Holdings will strictly comply with regulations on publishing the 2023 Financial Report on time,” Mr. Thuy promised.

On May 25, Apax Holdings received a decision from the Ho Chi Minh City Stock Exchange to transfer the company's shares from controlled to restricted trading due to the delay in submitting audited financial statements for 2022 more than 45 days from the prescribed deadline.

Since switching to restricted trading, IBC shares have had a low price of only around 2,500 VND/share. At the close of the session on June 9, IBC was priced at 2,620 VND/share.

Recently, many of "Shark" Thuy's businesses have encountered many difficulties.

Previously, in addition to offsetting debt with real estate, the English center restructuring investment package and the English learning package, Mr. Thuy's Egroup proposed a debt offsetting plan with household appliances.

Investors will be able to offset their debt with products from Bells (Germany) such as range hoods, electric stoves, pot sets, dishwashers, electronic door locks with integrated cameras... The products are provided in four packages (combos) with the lowest value of about 36 million VND and the highest value of more than 90 million VND.

Mr. Thuy also has ambitions to bring Apax Leaders to the stock exchange in the future.

Mr. Thuy said that when on the winning streak, the business went quite fast and encountered a big stumble in 2019. This was also the time when Egroup opened the most English centers, operating for a very short time and then had to close.

There was a time when businesses lost nearly 1,000 billion VND in 6 months. Interest and financial costs made businesses "extremely difficult".

Starting from July, Egroup will proactively contact elderly, sick, ill or families in difficult circumstances investors to the company to finalize debt.

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