Escaping the 'sentence' of trading suspension, HPX real estate stock turns purple, white on the sell side

On March 20, HPX shares of Hai Phat Investment Joint Stock Company increased to the ceiling price of VND6,550/share. This was the first session that this real estate stock was bought and sold again after 6 months of suspension. The situation of no sellers occurred early with the remaining ceiling price buy volume continuously reaching over 70 million units. At the end of the session, the trading volume of HPX only reached 1.39 million shares.

A real estate project of Hai Phat Investment Joint Stock Company

The reference price on the day HPX resumed trading was VND5,460/share and had a daily price fluctuation range of ±20%. Thus, shareholders who were unable to sell 6 months ago now have the opportunity to sell their stocks, even making a profit. Because before trading was suspended, this real estate stock also continuously decreased and the price only fluctuated around VND5,000.

Previously, the Ho Chi Minh City Stock Exchange decided to transfer more than 304 million HPX shares to the list of suspended trading since September 18, 2023. The reason is that Hai Phat continued to violate the regulations on information disclosure after being put on the list of restricted trading, which is a case of suspended securities trading. To date, the company has overcome this situation. At the same time, on March 8, HPX also announced the audited financial statements for 2023 (separate and consolidated) according to regulations.

At the end of 2023, Hai Phat achieved net revenue of VND 1,699.6 billion, up 4% compared to 2022 and after-tax profit of VND 135 billion, higher than the loss of VND 58 billion in 2022. In the past year, this stock has been continuously declining. At that time, many leaders of the company had their shares sold by securities companies when the price plummeted, especially after receiving the decision to suspend trading, including Chairman of the Board of Directors Do Quy Hai. According to the report, 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