A big company was fined more than 1.8 billion VND for illegally selling stocks.

Fine over 1.8 billion VND

The State Securities Commission (SSC) has just issued a decision to sanction administrative violations in the field of securities and the securities market against Hai Thach Group Joint Stock Company.

According to information announced by the Hanoi Stock Exchange (HNX), Hai Thach, an organization related to Mr. Vo Thuy Linh, member of the Board of Directors of Deo Ca Transport Infrastructure Investment Joint Stock Company (code HHV) was allowed to transfer 12.2 million HHV shares from November 15, 2021 to November 17, 2021. However, the company transferred 12.2 million HHV shares on November 12, 2021.

Therefore, Hai Thach was fined VND1.83 billion for committing an administrative violation of trading outside the time period when the Vietnam Stock Exchange or its subsidiaries disclosed information.

At the same time, Hai Thach was also suspended from securities trading activities for a period of 2 months.

Many businesses were fined for violations on the stock exchange. (Photo: Hoang Ha)

Vissai Ninh Binh fined for not disclosing information

The State Securities Commission issued a decision to sanction violations against Vissai Ninh Binh Joint Stock Company.

Accordingly, Vissai Ninh Binh was fined VND85 million for not disclosing information required to be disclosed according to law.

The company did not send periodic information disclosure to HNX for the 2022 semi-annual financial report; the situation of payment of interest and principal of semi-annual bonds in 2022; and the report on the use of capital from the issuance of semi-annual bonds in 2022.

Vinam was fined 150 million VND

The State Securities Commission has just issued a decision to impose administrative sanctions on Vinam Joint Stock Company.

On January 11, 2021, Vinam Joint Stock Company completed the private offering of 8,250,000 shares, increasing its charter capital from VND 115.5 billion to VND 198 billion. On March 29, 2021, the Board of Directors of the Company approved Resolution No. 2903/2021/NQHĐQT/CVN on changing the purpose of using the capital raised from the above offering (with a change rate of 44.44% of the proceeds from the offering) under the authorization of the General Meeting of Shareholders and reported to the 2021 Annual General Meeting of Shareholders on the use of 100% of the proceeds from the offering in Resolution No. 25/2021/CVN dated July 1, 2021.

However, on January 10, 2022, the Board of Directors of the Company continued to pass Resolution No. 1001/2022/NQHĐQT/CVN on changing the purpose of using the capital raised from the above offering (with a change rate of 20.2% of the amount raised from the offering) but was not authorized by the General Meeting of Shareholders.

For this violation, Vinam Corporation was fined 150 million VND.

Failure to report, fined 85 million VND

The State Securities Commission administratively fined Trung Tay Nguyen Construction and Trading Joint Stock Company VND 85 million.

Specifically, the company did not send periodic information disclosure to HNX for: Semi-annual financial statements for 2021 and 2022; Audited financial statements for 2020 and 2021; payment status of interest and principal of bonds in 2020, semi-annual statements for 2021, 2021 and semi-annual statements for 2022; report on the use of capital from bond issuance in 2020, semi-annual statements for 2021, 2021 and semi-annual statements for 2022.

The company did not send the information disclosure content to HNX on time for: Information disclosure before the bond offering with code VTGCH2124001.

Singer Khanh Phuong was fined for illegal stock trading: SJC, chaired by his wife . Singer Khanh Phuong's wife suddenly appeared as Chairwoman and Director of Song Da 1.01 Joint Stock Company.

Source