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PHP shares could be delisted

The Saigon Times

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HCMC – The Hanoi Stock Exchange (HNX) has announced that shares of Port of Haiphong JSC (PHP) might be delisted due to problems with its financial statements over the past three years.

As the company’s financial reports in 2019, 2020 and 2021 have except-for reviews of auditors, PHP shares may be removed from the northern bourse, as stipulated by the prevailing regulations and HNX’s regulations on securities listing, HNX said, reported Dau tu Chung khoan newspaper.

In related news, PHP’s 2022 general shareholders meeting is scheduled to take place virtually on April 20. The company will present a number of key documents at the meeting, including changes in business registration information, a report on container terminal projects in the northern port city of Haiphong, and a report on the relocation of Hoang Dieu port.

Haiphong Port, the largest seaport in northern Vietnam, was built 148 years ago.

The Port of Haiphong Company underwent equitization in 2014. Its charter capital was VND3.27 trillion, with State-owned Vinalines holding a 92.56% stake. Given its charter capital, PHP is currently the largest port company by charter capital on the local stock market.

Last year, PHP generated over VND2.2 trillion in revenue and over VND694 billion in after-tax profit, both up 12.5% and 23% against 2020, respectively.

On the stock exchange, PHP closed 1.2% higher at VND26,000 today, April 5.

As for trading on the HCMC market, the benchmark VN-Index shed 4.67 points, or 0.31% over the session earlier at 1,520.03, with 179 winners and 273 losers. Turnover on the southern bourse dropped 10% in volume and remained unchanged in value against yesterday at more than 703 million shares and at over VND21.7 trillion.

On the Hanoi bourse, the HNX-Index declined 2.59 points, or 0.56% versus the previous session to close at 456.1, with 98 stocks rising and 133 others falling. Nearly 94 million shares worth some VND2.9 trillion were traded on the bourse, up 12% in volume and 29% in value compared to Monday.

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