VNG shares, the most expensive on the floor, are restricted from trading again

The Hanoi Stock Exchange (HNX) announced that the VNZ stock code of VNG Corporation will be placed under trading restrictions starting from October 25th. Accordingly, VNG shares, the most expensive stock on this exchange, will only be traded on Fridays.

The reason is that VNG was late in submitting its audited semi-annual financial report for 2023, exceeding 45 days from the deadline for information disclosure, which falls under the category of being subject to trading restrictions as stipulated by regulations.

Since the beginning of this year, VNG has become the most expensive stock on the Vietnamese stock exchange, continuously hitting the ceiling price after listing on UPCoM and surpassing 1.5 million VND. However, after a series of peak days due to very low selling volume, the stock quickly reversed course and plummeted. Currently, VNZ stands at 802,000 VND, down 45% from its highest price at the beginning of the year. Even so, it remains the most expensive stock on the Vietnamese stock exchange.

This is not the first time VNZ shares have been placed under trading restrictions. Previously, in May, VNZ was also placed under trading restrictions due to the late submission of its audited financial statements for 2022. Just 10 days later, the shares were removed from the trading restrictions after VNG submitted its audited financial statements for 2022.

According to its self-prepared financial report, in the first six months of 2023, VNG achieved revenue of 4,098 billion VND, an increase of 12% compared to the same period last year. After deducting expenses, VNG incurred a net loss of nearly 40 billion VND, a significant improvement compared to the loss of nearly 510 billion VND in the same period last year.

In late August, VNG Limited – a major shareholder of VNG – officially filed an application for an initial public offering (IPO) of Class A common shares on the Nasdaq Global Select Market under the ticker symbol VNG. However, recent information suggests that the IPO plan has been postponed to 2024 when the time is more favorable.

Source: https://thanhnien.vn/co-phieu-vng-dat-gia-nhat-san-lai-bi-han-che-giao-dich-185231025121104347.htm