Trading of RDP shares of Rang Dong Holding has been suspended.

ANTD.VN - Rang Dong Holding's RDP shares will be moved from the restricted trading category to the suspended trading category due to prolonged violations of information disclosure obligations.

Accordingly, HOSE stated that it had previously issued a decision to move the stock from the controlled category to the restricted trading category effective October 24, 2024 (only allowed to be traded in the afternoon session of the trading day through centralized order matching and negotiated trading methods). The reason was that the listed company was more than 45 days late in submitting its audited semi-annual financial statements for 2024 (separate and consolidated) compared to the stipulated deadline.

However, even after being placed under trading restrictions, RDP continued to violate information disclosure regulations. The Ho Chi Minh City Stock Exchange issued two letters reminding the company about the delay in disclosing its Q3 2024 financial statements (both separate and consolidated).

"To date, the Ho Chi Minh City Stock Exchange (HOSE) has not yet received the audited semi-annual financial statements for 2024 and the Q3 financial statements for 2024 from RDP," HOSE stated.

Rang Dong Holding is facing difficulties in production and business operations, as well as personnel changes.

Therefore, based on current regulations, HOSE announces that RDP shares have fallen under the category of securities subject to trading suspension, and the exchange will proceed with transferring the shares from the restricted trading category to the suspended trading category as per regulations.

Explaining the reason for the delay in disclosing information, Rang Dong Holding stated that the company is currently facing personnel difficulties, especially with a high number of accounting staff leaving the company. Therefore, the company was unable to complete and submit its financial report on time. Rang Dong Holding commits to focusing on completing the Q3/2024 financial report and publishing it as soon as possible.

Rang Dong Holding Joint Stock Company is known for its famous Rang Dong Plastic brand. However, recently, the company has been facing continuous difficulties. At the end of 2023, the company lost a lawsuit against its foreign shareholder, Sojitz Planet Corporation (part of the Sojitz Group - Japan), and had to return nearly 157 billion VND along with related fees and charges.

Following this event, Mr. Ho Duc Lam, Chairman of the Board of Directors, continuously sold shares and was forced to sell approximately 19 million RDP shares, reducing his ownership stake from 45% to just 6.09% currently.

Last August, General Director Ha Thanh Thien submitted his resignation, and he was replaced by Huynh Kim Ngan, who had never held any position at Rang Dong Holding.

Regarding business results, in the second quarter of 2024, Rang Dong Holding recorded a net loss of VND 66 billion (compared to a profit of over VND 10 billion in the same period last year), and a cumulative net loss of VND 64 billion for the first six months of the year.

On the market, at the close of trading on November 19th, RDP shares fell another 4%, to just 1,680 VND per share. This price has decreased by over 80% compared to the beginning of 2024.

Source: https://www.anninhthudo.vn/dinh-chi-giao-dich-co-phieu-rdp-cua-rang-dong-holding-post595995.antd