The Ho Chi Minh City Stock Exchange (HOSE) has just sent a document to Tan Tao Investment and Industry Corporation (stock code ITA) informing that ITA shares are subject to trading suspension. According to HOSE, ITA shares are subject to trading restrictions because the company is 45 days late in submitting its audited financial statements for 2023, which is a case of securities subject to trading restrictions.
ITA shares of Tan Tao Group will be suspended from trading on HOSE
Previously, on August 27, ITA sent a dispatch requesting the State Securities Commission and HOSE to temporarily postpone the disclosure of information on the 2023 audited financial statements, 2023 annual report, and 2024 semi-annual reviewed financial statements due to force majeure. In June, the State Securities Commission sent a dispatch responding to the company's request to postpone the disclosure of information. On September 4, HOSE sent a dispatch reminding the company of the delay in disclosing the 2024 audited financial statements. To date, the company has not yet published the 2024 semi-annual reviewed financial statements. Therefore, according to regulations, ITA shares will be suspended from trading by HOSE. However, the suspension period for ITA shares has not been specifically announced.
In August, ITA explained in detail the force majeure reasons that prevented it from submitting its financial reports for many months. Accordingly, despite the company's best efforts to contact and persuade all auditing firms (30 auditing firms approved to audit public interest entities in the securities sector in 2023), all of these auditing firms refused.
The main reason, according to ITA, is that the State Securities Commission has suspended the auditing qualifications of 4 auditors who audited Tan Tao's financial statements in 2021, 2022 and the semi-annual audited financial statements in 2023.
Tan Tao was founded in 1993, the chairwoman of the Board of Directors is Ms. Dang Thi Hoang Yen, who used to be a very famous businesswoman in Vietnam and was in the top 10 richest people in the Vietnamese stock market for 3 consecutive years from 2008 - 2010. After many years of absence, in 2021 Ms. Yen suddenly appeared at Tan Tao's 2020 Annual General Meeting of Shareholders via online form. After this time, Ms. Yen appeared more frequently and then changed her name to Maya Dangelas...
Source: https://thanhnien.vn/co-phieu-tan-tao-bi-dinh-chi-giao-dich-sau-khi-kiem-toan-tu-choi-lam-viec-185240917080600906.htm
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