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Vietnam Airlines shares to be restricted from trading

The Saigon Times

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HCMC – HVN shares of Vietnam Airlines will only be traded in the afternoon session from July 17 due to the carrier’s delay in submitting its audited financial statement for 2022.

The Hochiminh Stock Exchange (HOSE) announced today, July 5, that it would impose trading restrictions on Vietnam Airlines’ shares in the next two weeks.

HVN shares have been put under supervision since the beginning of May as Vietnam Airlines failed to submit its audited financial statement for 2022 within 30 days from the deadline.

At the end of March, Vietnam Airlines once sought permission from the State Securities Commission and HOSE to extend the deadline for its financial statement submission, yet it got rejected.

Explaining the delay in information disclosure, Vietnam Airlines said that it had been undergoing a comprehensive restructuring and stabilization of its business operations, so it needs more time to complete the financial statement.

HOSE warned Vietnam Airlines in February that its shares could be delisted from the stock exchange if the carrier incurs losses for three consecutive years, or its equity is negative.

Last month, Vietnam Airlines also postponed its shareholders’ general meeting, citing the need for additional preparation time.

The annual meeting is expected to take place before August 30, and the company will finalize the list of shareholders attending the meeting on July 11.

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