Today (May 17), Ho Chi Minh City Stock Exchange (HOSE) announced the transfer of HBC shares of Hoa Binh Construction Group Joint Stock Company from controlled to restricted trading from May 23, 2023.
The reason why HBC shares were put on the trading restriction list by HOSE is because Hoa Binh Construction has not yet submitted its audited financial report for 2022, 45 days later than the prescribed deadline.
Accordingly, HBC shares will only be traded in the afternoon session of the trading day by centralized order matching method and negotiated trading method from May 23, 2023.
On the same day, HOSE also made a decision on a series of stocks to change from controlled to restricted trading from May 23 because listed companies were late in submitting audited financial statements for 2022 for more than 45 days as prescribed.
Accordingly, TTB shares of Tien Bo Group Joint Stock Company; AGM shares of An Giang Import-Export Joint Stock Company; TVB shares of Tri Viet Securities Joint Stock Company; HPX shares of Hai Phat Investment Joint Stock Company; IBC shares of Apax Holdings Investment Joint Stock Company.
Among the above enterprises, Hai Phat Company has requested to postpone the submission of the 2022 audited financial report until May 20, 2023, which is 50 days more than the usual deadline.
According to Hai Phat's document dated March 31, in the last months of 2022, due to the impact of the prolonged COVID pandemic and the impact of policies and legal regulations in general, the real estate market entered a period of recession and illiquidity. Hai Phat, like other companies in the same industry, is facing many financial difficulties, unable to access capital sources from credit institutions, unable to issue bonds, and the shareholder structure and senior management personnel have changed a lot.
Similar to Hai Phat, Apax Holdings Company also requested to delay submitting the report until June 30, 2023, 3 months later than the deadline.
Codes such as HBC of the giant Hoa Binh Construction, HPX of the one-time real estate giant Hai Phat, or IBC - the enterprise headed by Shark Thuy, all once "made waves" in the market - associated with the prosperous period of the above business owners.
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