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Monday, June 17, 2024

SDT shares to be delisted in January

The Saigon Times

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HCMC – The Hanoi Stock Exchange (HNX) has announced the delisting of more than 42.7 million SDT shares of Song Da No 10 JSC on January 23, with a total face value of VND427.3 billion.

This decision comes as a result of the company’s poor financial performance. It has incurred losses for three consecutive years. The warning about potential delisting of SDT shares was initially issued by HNX in late March 2023, citing the firm’s financial difficulties over the past three years.

According to the audited financial reports, SDT reported losses of VND4.47 billion in 2020, VND14.27 billion in 2021, and VND15.65 billion in 2022.

SDT, which went public in December 2006 at an opening price of VND67,800 per share, had been under warning status since April 2022 due to negative undistributed post-tax profits as of December 31, 2021.

Despite a brief return to profitability in the second and third quarters of 2023, SDT reported a cumulative loss of VND6.54 billion in the January-September period, according to its consolidated earnings reports.

Closing the trading session today, December 29, SDT shot up to its daily upper limit of VND4,200.

The Hochiminh Stock Exchange saw advancers outnumbering decliners by 295 to 190. However, the benchmark VN-Index moved sideways with a marginal increase of 0.09%, gaining one point to 1,129.93 points.

Trading volume and value were similar to the previous session, with 710.8 million shares worth VND15.8 trillion. Block deals contributed 94.4 million shares and VND2.7 trillion to the overall value.

Property developer NVL took the lead by liquidity with a trading volume of 24.8 million shares. It edged up 2.4% to close at VND17,050.

The HNX-Index of the Hanoi Stock Exchange edged down by 0.31 points, or 0.13%, versus the previous session, at 231.04 points. The northern bourse saw 87 stocks gaining and 73 others dipping, and a trading volume of 68.7 million shares worth over VND1.2 trillion.

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