HCMC – The Inspectorate of the State Securities Commission has fined KIDO Group Corporation (HOSE: KDC) VND240 million for violating information disclosure rules on Vietnam’s securities market.
Under Decision No. 335/QD-XPHC issued on October 16, KDC was fined VND65 million for failing to timely disclose audited reports on the use of capital raised from bond sales in 2023 and the first half of 2024 on the Hanoi Stock Exchange’s corporate bond information platform.
The company was fined an additional VND175 million for providing inaccurate information about the use of bond proceeds.
Between December 2020 and June 2024, KDC reported that it had used the entire VND1 trillion raised to supplement working capital for its cooking oil business and invest in Vibev Food and Beverage Joint Venture Company. However, company documents later showed that no capital was contributed to the joint venture.
KDC was also required to correct or withdraw the misleading information.
Closing the trading session today, October 24, KDC edged down 0.19% to VND52,000, with over 82,700 shares changing hands.
Vietnam’s benchmark VN-Index fell on Friday as financial and banking stocks continued to decline, even as trading volume rose sharply.
The VN-Index on the Hochiminh Stock Exchange (HOSE) dropped 3.88 points, or 0.23%, to 1,683.18. The bourse recorded 117 gainers and 190 decliners. More than 940 million shares worth VND29.48 trillion changed hands, up 25% in volume and 21% in value from the previous session.
For the week, the VN-Index lost over 48 points, or 2.77%.
Large-cap stocks showed mixed performance. FPT rose 2.8% to VND97,700 and VNM added 2.7% to VND58,100. VIC gained 1.9% to VND219,000, contributing most to the index.
Financial stocks extended losses. SSI fell 4% to VND36,000. Lenders STB, SHB, VPB, TCB, and MBB declined between 2% and 3%. VJC dropped 2.2% to VND180,000.
Trading was heavy in SHB and SSI, each with around 83 million shares traded. VIX slid 6.5% to VND30,950 with more than 51 million shares changing hands. SHB was the most actively traded stock on the southern market. TCX and VND fell 1.9% and 1.5%, respectively.
Only a few stocks advanced. VTP and CTR hit their daily upper limits at VND113,700 and VND90,900. PAN, PNJ, CMG, DXS, FRT, and BMP increased by 3% to over 5%.
On the Hanoi Stock Exchange, the HNX-Index gained 0.5 point, or 0.19%, to 267.28, with 64 advancers and 82 decliners. Trading volume reached 116.5 million shares worth VND2.58 trillion.
