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HNX to lift trading restriction on VNG’s stock next week

The Saigon Times

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HCMC – The Hanoi Stock Exchange, or HNX, will lift trading restrictions on VNG Corporation’s shares (stock code: VNZ) next week, on June 5, as the tech firm has already submitted its financial statement for 2022.

Previously, VNG Corporation was over 45 days late in filing the audited financial statement, resulting in trading restrictions on its VNZ shares starting from May 25, in accordance with the current regulations.

As per VNG’s financial statement for 2022, the tech firm recorded a net loss of VND1,534 billion last year.

The company has also reported its business results for the first quarter of 2023, with revenue reaching VND1,853 billion, an increase of 11% compared to the same period last year.

However, the company still incurred a net loss of VND90 billion between January and March, which is lower than the figure of VND130 billion in the same period last year.

VNG Corporation has been seeking to raise US$100 million in a fresh funding round and has been working with Maybank on fundraising.

VNZ is currently trading at VND771,900 per share, the highest price on the stock exchange. However, this stock has dropped by nearly 50% in price compared to its peak in mid-February when it was over VND1.5 million.

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