HCMC – The People’s Court of Dong Nai Province has initiated bankruptcy proceedings against LDG Investment JSC (HOSE: LDG) following a request from Phuc Thuan Phat Trading and Construction JSC.
The court said it found sufficient evidence to declare LDG Investment bankrupt. As of March 31, 2024, LDG Investment’s total assets decreased by 0.9%, or VND68.2 billion, to VND7.2 trillion.
The firm’s cash reserves were merely VND6.7 billion, while its total borrowings totaled VND1.3 trillion, representing 51.3% of its equity.
In the first quarter of this year, the company posted negative revenue of VND130.2 billion and net losses of VND124.9 billion.
Closing the trading session today, July 25, its LDG shares plunged to the floor price at VND2,410, with a matching volume of around 3.8 million shares.
With 131 winners and 294 losers, the VN-Index of the Hochiminh Stock Exchange dropped 5.28 points, or 0.43% from the session earlier, to 1,233.19 points.
Stock trade on the southern exchange decreased by 35% in volume and 34% in value, with 484.4 million shares worth VND11.7 trillion changing hands. Block deals accounted for 63.3 million shares worth VND2.06 trillion.
Decliners outnumbered advancers in the VN30 basket by 22 to 4. The VN30-Index lost 8.33 points, or 0.65%, to 1,272.18 points.
GVR, VIC and BVH increased by around 1% while BCM gained 3.3% at VND69,100.
VNM, VJC, MBB and HDB stayed at their reference prices. SSI fell the steepest, dropping 3.04% to VND31,900. Other notable decliners were CTG, VRE and POW, with each down by over 2%. TCB, SAB, HPG and STB also edged down by over 1%.
Lender MBB was the most actively traded stock on the market, with nearly 20.4 million shares changing hands.
The Hanoi Stock Exchange saw 58 stocks gaining and 103 others dipping. The HNX-Index closed down by 0.92 point, or 0.39%, at 235.25 points. Total matched volume on the northern exchange reached 34.55 million shares worth VND687.9 billion.
