HCMC – The Hanoi Stock Exchange (HNX) has announced it will not allow FLC Group to trade its shares on the Unlisted Public Company Market (UPCoM).
On March 3, FLC stocks will be listed on the UPCoM market, but it will continue to be suspended from trading, according to the HNX.
The company will have 15 days to explain its failure to disclose information as required and suggest solutions to the issue.
The Hochiminh Stock Exchange delisted around 710 million stocks of FLC Group on February 13, but it is a public company, so it must trade its shares on the UPCoM as prescribed by Article 133 of Government Decree 155, the northern bourse said.
Decree 155, issued in 2020, elaborates on the implementation of some articles of the Securities Law.
On the same day, FLC asked the southern bourse to reconsider its decision on FLC shares, attributing its violations to force majeure events.