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Wednesday, July 17, 2024

FLC shares to move to UPCoM

By N. Tan

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HCMC – FLC Group will move its shares to the Unlisted Public Company Market (UPCoM) on Wednesday, February 22, according to the Vietnam Securities Depository (VSD).

Although the Hochiminh Stock Exchange has delisted FLC shares for failure to disclose information as required, the firm is still a public company, so it must trade its shares on the UPCoM as prescribed by Article 133 of Government Decree 155.

Decree 155, issued in 2020, elaborates on the implementation of some articles of the Securities Law.

The securities law defines a public company as a joint-stock company with its charter capital exceeding VND30 billion and having at least 10% of the voting shares held by over 100 minority shareholders. Currently, FLC Group has around 710 million shares valued at nearly VND7.1 trillion held by over 64,700 investors.

At the time of announcement, FLC shares were priced at VND3,570.

Closing the trading session today, February 20, strong gains of many bluechips pushed the VN-Index of the Hochiminh Stock Exchange up 2.58% versus the previous session to 1,086.69 points, with 383 winners and 42 losers. Of the advancers, 43 stocks hit the upper limit.

Trade on the southern bourse soared by 46.73% in volume and 52.16% in value over the session earlier at 465 million shares and nearly VND7.7 trillion, with over 50.1 million shares traded in block deals contributing over VND1.2 trillion to the overall value.

In the VN30 basket, 29 stocks advanced, with half of them jumping over 3%, sending the VN30 index up 33 points to nearly 1,090. Real estate stocks NVL and PDR reached the upper limit, with over 24.4 million and VND8.2 million shares traded, respectively.

The Hanoi Stock Exchange had positive movements as the HNX-Index added 5.88 points, or 2.8%, from the session earlier, at 215.83, with 144 advancers and 50 decliners.

Over 90.8 million shares valued at VND1.4 trillion were traded on the northern bourse, of which 700 thousand shares worth over VND9.5 billion were transacted in put-through deals.

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