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Northern bourse puts LDP on warning list

The Saigon Times

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HCMC – The Hanoi Stock Exchange (HNX) has put 12.7 million LDP shares of Lam Dong Pharmaceutical JSC on its warning list due to the firm’s losses in 2022.

The northern bourse also suspended the stock from margin trading, making it impossible for investors to borrow money from securities firms to buy LDP shares from March 23.

According to the company’s 2022 audited consolidated financial statements, its revenue rose by VND26 billion over 2021 to VND188 billion. However, the firm incurred a loss of VND38.9 billion in 2022 compared to a profit of VND37.9 billion in the previous year.

To remove its name from the HNX’s warning list, the firm will have to explain its plans to improve business results to the HNX within 15 days from March 20 and disclose information as prescribed every quarter.

Despite the bad news, closing the trading session today, March 21, LDP rose to its upper limit, at VND5,300, and reported a matching volume of 483,600 shares.

With 279 winners and 109 losers, the benchmark VN-Index of the Hochiminh Stock Exchange inched up 9.33 points, or 0.91%, over the session earlier at 1,032.43.

However, trade on the southern bourse dropped 16% in volume and 15% in value, with 474.9 million shares worth over VND8.3 trillion changing hands. Over 93.3 million shares traded in block deals contributed more than VND1.6 trillion to the overall value.

Bank stock VPB gained 3.3% against yesterday’s session to VND20,350 and took the lead by liquidity with over 29.1 million shares changing hands.

On the Hanoi bourse, the HNX-Index edged up 1.49 points, or 0.74%, from the previous session, at 203.11, with 104 advancers and 55 decliners.

Trade on the HNX amounted to over 36 million shares with a value of VND522 billion, with around 9.9 million shares valued at VND275.2 billion transacted in put-through deals.

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