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Tuesday, July 16, 2024

HOSE prohibits 94 stocks and fund certificates from margin trading

The Saigon Times

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HCMC – The Hochiminh Stock Exchange (HOSE) has announced that seven more stocks are now ineligible for margin trading, taking the total count of restricted stocks and fund certificates to 94 as of August 31.

The additional tickers includes DRH (DRH Holdings JSC), DXS (Dat Xanh Real Estate Services JSC), HAS (Hacisco JSC), SBV (Siam Brothers Vietnam JSC), TDC (Binh Duong Trade And Development JSC), TTE (Truong Thinh Energy Investment Joint Stock Company), and ADG (Clever Group Corporation).

Among these, the initial six stocks have been placed under margin trading restriction due to reporting losses in their consolidated financial statements for the initial six months of 2023.

For instance, DXS reported revenue of VND1,029 billion but incurred losses of VND61 billion in the first half of 2023. Meanwhile, TTE encountered a 9% fall in consolidated sales revenue, dropping to VND70 billion, and suffered after-tax losses of nearly VND8 billion.

TDC posted revenue of VND244 billion in the January-June period, down by 70% compared to the same period last year, and net losses of almost VND322 billion.

On the other hand, ADG has been subject to restricted margin trading due to its semi-annual consolidated financial report for 2023 not receiving full acceptance from the auditing organization.

With the inclusion of these seven stocks, the tally of stocks and fund certificates under margin trading restrictions on HOSE has risen to 94, predominantly those of loss-making entities.

The remaining stocks fall within the categories of warning, control, or being listed for less than six months.

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