VNG shares, the most expensive on the stock exchange, are restricted from trading

From today (May 25), VNZ shares of VNG Corporation are restricted from trading because the company is late in submitting its audited financial statements for 2022 by more than 45 days from the deadline for information disclosure as prescribed. This stock is only traded on Fridays every week. This is still the most expensive stock on the stock exchange today.

At the close of yesterday's session, VNZ shares stood at VND759,000/share. VNG's estimated capitalization is currently at nearly VND22,000 billion, equivalent to nearly USD1 billion.

VNG shares are only traded on Fridays every week from May 25.

VNZ shares started trading on UPCoM from January 5 with a reference price of VND240,000/share. In the first 14 sessions of listing, VNZ lost liquidity and the shares remained at the reference price. However, in the next 11 sessions, VNZ started trading and increased by 15%/session, most of which were only traded at a minimum of 100 shares per session. As a result, VNZ's price peaked at over VND1.5 million/share in the session on February 15 but quickly turned down and closed at VND1.35 million/share. VNZ has become the most expensive stock in the history of the Vietnamese stock market. At this peak, the company's capitalization was VND39,000 billion, equivalent to USD1.5 billion.

After reaching the above peak, VNG shares turned down and have now been trading stably around VND800,000/share, with trading volume per session only ranging from a few hundred to a few thousand shares.

Recently, the company's consolidated financial report for the first quarter of 2023 announced that it had achieved net revenue of VND 1,852.4 billion, an increase of 11% over the same period last year, and a loss after tax of more than VND 90 billion, lower than the loss of over VND 130 billion in the first quarter of 2022. According to the explanation, the loss decreased compared to the same period last year mainly due to the success of new game products as well as the reduction in advertising costs.

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