Ms. Nguyen Thi Thom was fined 1.5 billion VND and banned from trading securities, participating in securities companies, and managing funds for two years for manipulating BNA shares.
This penalty decision was recently issued by the State Securities Commission, because Ms. Thom used 9 securities accounts to continuously buy and sell BNA shares of Bao Ngoc Investment and Production Joint Stock Company, in order to create artificial supply and demand.
The stock manipulation was carried out by Ms. Thom from October 12, 2020 to October 6, 2021, immediately after the stock was listed on the HNX. According to the Securities Commission, the inspection results showed that this individual did not have any illegal income from stock manipulation.
Bao Ngoc Investment and Production Company, formerly Bao Ngoc high-end cake private enterprise, was established in 1986. In 1994, Bao Ngoc transformed into a private enterprise. In July 2012, this enterprise established Bao Ngoc Akito Company with a charter capital of 20 billion VND and 5 years later officially changed its name to Bao Ngoc Investment and Production Joint Stock Company.
Bao Ngoc's main business is bakery. In addition, this company also provides office rental services.
BNA shares were officially listed on the Hanoi Stock Exchange (HNX) on October 12, 2020, which was also the time when Ms. Thom began manipulating prices. BNA's current price is trading around VND11,000, before that, this code had reached a peak of VND37,000.
Minh Son
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