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Wednesday, May 18, 2022

NSH Petro exec fined VND100 million over unannounced share sale

The Saigon Times

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HCMC – The State Securities Commission of Vietnam (SSC) on April 5 imposed an administrative fine of VND100 million (US$4,378) on Do Thuy Tien, in charge of the management of Nam Song Hau Trading Investing Petroleum JSC (NSH Petro/PSH), for her unannounced sale of PSH shares.

She sold 49,300 PSH shares on August 3, 2021 and 696,500 PSH shares on the following day, but did not announce her plan to sell the shares in advance, reported Dau tu Chung khoan newspaper.

Having risen to its all-time highs over the past nine months, at over VND29,000 per share in March this year, the PSH rise has eased gradually. It closed up 0.41% at VND24,700 today, April 7.

In another development, NSH Petro is set to offload 46,400 shares to reduce the volume of treasury shares to zero. Transactions are scheduled to take place in the second quarter of this year, after the company receives approval from SSC and makes an pre-transaction announcement as required by prevailing regulations.

The VN-Index of the HCMC market shed 20.55 points, or 1.35% over the session earlier at 1,502.35 today, with 89 winners and 372 losers. Trade volume contracted 16% at over 795 million shares while value fell 10% at over VND27 trillion. Block deals contributed some VND1.8 trillion to the overall stock trade value.

In the VN30 basket, 24 bluechips ended lower.

But electricity firm POW, lender ACB, petroleum distributor PLX, lender MBB, tech firm FPT, and housing developer KDH advanced.

On the Hanoi market, the HNX-Index fell to its intraday low due to a strong sell-off. With 64 stocks rising and 163 others dropping, the index lost 5.22 points, or 1.17%, against yesterday at 441.61.

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