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VKC shares to be delisted next month

The Saigon Times

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HCMC – The Hanoi Stock Exchange (HNX) has announced it will delist nearly 20 million VKC shares of VKC Holdings Joint Stock Company (VKC Holdings) on April 25, with a total value of around VND26 billion.

The company will be delisted for its accumulated losses exceeding its chartered capital and Viet Values Audit and Consulting Company issued a disclaimer of opinion on the firm’s 2022 financial statements.

According to Decree 15/2020 on the elaboration of securities law, a public company will face delisting in case its total losses exceed its charter capital or the firm receives a disclaimer of opinion from an auditing firm.

VKC Holdings’s 2022 financial statements showed that the company’s accumulated losses had reached nearly VND217 billion, while its charter capital stood at VND200 billion.

The auditing firm also voiced doubt about VKC Holding’s ability to continue as a going concern as it owed a sum of VND366.7 billion by late 2022.

VKC closed the trading session today at the reference price of VND1,300 and reported a matching volume of more than 986,000 shares.

The benchmark VN-Index of the Hochiminh Stock Exchange added 2.04 points, or 0.19% over the session earlier, at 1,056.33, extending its winning streak for the seventh session despite decliners outnumbering advancers by 216 to 147.

Trade on the southern bourse plunged by nearly 29% in volume and 26% in value against the previous session, at around 461 million shares and over VND8.3 trillion, including more than 45.8 million shares worth nearly VND996 billion traded in block deals.

Cash flow was strongly channeled into bank stocks, with three out of the five most actively traded stocks on the southern bourse being lenders. SHB took the lead by liquidity with a matching volume of more than 21.9 million shares but closed down 0.5% over the previous session, at VND10,800.

On the Hanoi exchange, the HNX-Index edged down a slight 0.16 point, or 0.08%, from the previous session, at 205.59 at the close, with 75 winners and 70 losers.

There were more than 51.7 million shares valued at around VND681 billion traded on the northern bourse. Securities firm SHS was the most actively traded stock on the bourse with over 15.3 million shares changing hands and finished the day at the reference price of VND8,900.

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