Tan Tao's ITA shares were put on the trading suspension list.

On the afternoon of September 16, the Ho Chi Minh City Stock Exchange (HoSE) announced that it will transfer ITA shares of Tan Tao Investment and Industry Joint Stock Company (Tan Tao) from restricted trading to suspended trading according to regulations.

According to HoSE, Tan Tao continues to violate regulations on information disclosure on the stock market after being placed on a restricted trading list. Specifically, Tan Tao has not yet published its audited financial statements for 2023, its annual report for 2023, and its semi-annual financial statements for 2024.

A corner of Tan Tao Industrial Park

Previously, according to Decision No. 414/QD-SGDHCM dated July 9, 2024 of HoSE, ITA shares were put on restricted trading because the company was 45 days late in submitting its audited financial statements for 2023 compared to the regulations.

Tan Tao also sent Official Letter 260/CV-ITACO-24 to the State Securities Commission (SSC) and HOSE, requesting to postpone the announcement of the audited financial statements for 2023 and the reviewed semi-annual financial statements for 2024 due to objective difficulties. However, the management agencies have not yet approved this request.

On September 4, HoSE also issued Official Letter No. 1368/SGDHCM-NY reminding Tan Tao about the delay in publishing the audited semi-annual financial report for 2024. This means that ITA shares are at risk of being suspended from trading if the situation does not improve.

"According to the provisions of Point c, Clause 1, Article 41 of the Regulations on Listing and Trading of Listed Securities, a listed organization that continues to violate the regulations on information disclosure on the stock market after being placed on the restricted trading list will have its trading suspended," the document stated.

Previously, Tan Tao sent a dispatch requesting the State Securities Commission and HoSE to allow it to postpone the announcement of the 2023 Audited Financial Report, the 2023 Semi-Annual Financial Report and the 2024 Semi-Annual Reviewed Financial Report. Tan Tao gave the reason that no auditing company agreed to audit the company's financial statements.

Tan Tao affirmed that although the company had made every effort to contact, work with and persuade all auditing units, all of these auditing companies refused.

At the end of the stock trading session on September 16, ITA shares decreased by 200 VND/share, to only 3,240 VND/share.

Source: https://nld.com.vn/co-phieu-ita-cua-tan-tao-vao-dien-bi-dinh-chi-giao-dich-196240916200936773.htm