On March 20th, HPX shares of Hai Phat Investment Joint Stock Company surged to the ceiling price of 6,550 VND/share. This marked the first trading session for this real estate stock after a six-month suspension. A lack of sellers was evident from the start, with buy orders at the ceiling price consistently exceeding 70 million units. At the close of trading, HPX's trading volume reached only 1.39 million shares.
A real estate project by Hai Phat Investment Joint Stock Company.
The reference price for HPX on the day trading resumed was 5,460 VND/share, with a daily price fluctuation range of ±20%. Therefore, shareholders who didn't manage to sell six months ago now have a chance to exit their positions, possibly even at a profit. Before trading was suspended, this real estate stock had been continuously declining, with the price fluctuating around 5,000 VND.
Previously, the Ho Chi Minh City Stock Exchange issued a decision to suspend trading of over 304 million HPX shares effective September 18, 2023. The reason was that Hai Phat continued to violate regulations on information disclosure after being placed under trading restrictions, falling under the category of securities subject to trading suspension. To date, the company has rectified this situation. Furthermore, on March 8th, HPX also published its audited financial statements for 2023 (separate and consolidated) as required.
At the end of 2023, Hai Phat achieved net revenue of VND 1,699.6 billion, a 4% increase compared to 2022, and after-tax profit of VND 135 billion, higher than the VND 58 billion loss in 2022. Over the past year, the company's stock continuously declined. During that time, many company leaders had their shares liquidated by securities companies as the price plummeted, especially after receiving a trading suspension order, including Chairman of the Board Do Quy Hai. According to reports, by the end of 2023, Mr. Do Quy Hai still owned 40.8 million shares, equivalent to 13.43% of the company's charter capital, a decrease of nearly 3 million shares compared to the end of June 2023.
Source: https://thanhnien.vn/thoat-an-ngung-giao-dich-co-phieu-bat-dong-san-hpx-tim-lim-trang-ben-ban-185240320153248113.htm
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