HBC restricted from trading from May 23

SGGPO 17/05/2023 15:35

Hoa Binh Construction Group Joint Stock Company (HBC) submitted its audited financial report for 2022 more than 45 days late compared to the regulations, so from May 23rd, HBC shares were moved from the controlled category to the restricted trading category.

The Ho Chi Minh City Stock Exchange (HoSE) has decided to move the shares of Hoa Binh Construction Group JSC (HBC) from the controlled category to the restricted trading category effective May 23rd. Accordingly, HBC shares will only be traded in the afternoon session of each trading day through centralized order matching and negotiated transactions. This is due to the company's delay in submitting its audited financial statements for 2022 by more than 45 days compared to the regulations. Simultaneously, HBC shares will continue to be held under control due to the delayed submission of audited financial statements for 2021 and 2022.

Previously, in explaining the delay in publishing financial reports that led to its shares being placed under control, HBC stated that the company's internal governance had encountered several issues recently. In addition, the volatile real estate and financial markets, along with the suspension of numerous construction projects, made it difficult to verify the completed work volume and value from investors, affecting payment and settlement. This impacted the company's operations throughout, including the timely completion of the annual financial report.

HBC announced that it will publish its audited financial statements for 2022 no later than May 30th; and will also publish its 2022 Annual Report as required.

During the trading session on May 17th, HBC shares closed at the floor price of 8,660 VND/share, with over 263,000 shares offered for sale at the floor price and no buyers.

Source: https://www.sggp.org.vn/hbc-bi-han-che-giao-dich-tu-ngay-23-5-post690047.html