The Ha Noi Stock Exchange (HNX) has announced an additional 17 shares subject to alert, supervision and trading suspension.
Most of them have violated information disclosure rules many times.
Two stocks put under temporary trading suspension were named as Sai Gon Vegetable JSC (SGO) (from September 21) and ASA Consumer Product JSC (ASA) (from September 20).
According to HNX, SGO continued to violate regulations on information disclosure on the stock market after the stock had been put under supervision. The company has not remedied the cause for which the stock had been put under supervision.
On January 25, 2017, SGO shares were put under supervision and trading restriction (trading only every Friday) due to inaccurate information disclosure. The company was also fined VND330 million (US$14,163) for delayed information disclosure as well as organisation of the annual shareholders’ meeting.
SGO shares are currently being traded at under VND1,000 per share.
Meanwhile, the trading restriction of ASA shares was to protect investors’ interest, HNX said. On July 31 this year, ASA shares were put under supervision as the company delayed submitting its audited 2017 financial statement. The company has yet to submit the required statement and is still under supervision.
One other share was put under supervision due to information disclosure violations. It was Bac Lieu Fisheries JSC (BLF). This stock can only be traded every Friday.
Fourteen stocks were put under alert. Many of them have violated information disclosure regulations four times in a year, including Quang Ninh Construction & Cement (QNC), Petrovietnam Engineering Consultancy JSC (PVE), Ha Noi Milk JSC (HNM) and Duc Long Gia Lai Investment JSC (DL1).
As of September 24, 72 stocks are under alert and supervision on the HNX, while 20 stocks are subject to trading suspension.