ANTD.VN - XDC shares of Tan Cang Construction Joint Stock Company will be delisted from December 29, 2023. XDC was once pushed up to nearly 1 million VND/share, the most expensive on the stock exchange at that time.
The Hanoi Stock Exchange (HNX) has just decided to cancel the trading registration for XDC shares of Tan Cang Construction Joint Stock Company. Accordingly, 8,200 XDC shares on the UPCoM floor will be canceled from December 29, 2023, the last trading day is December 28.
The reason for canceling the transaction registration is because Tan Cang Construction is an equitized enterprise that after 1 year from the first transaction date still does not meet the conditions to be a public company according to regulations.
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XDC shares of Tan Cang Construction will be delisted from December 29. |
Previously, XDC shares were put on warning since July 13. The reason is that the organization registering for trading has not yet organized the 2023 Annual General Meeting of Shareholders within the maximum period from the end of the fiscal year as prescribed in Clause 2, Article 139 of the Enterprise Law.
It is known that XDC was formerly an engineering unit of the Navy. Before equitization, the company was called Tan Cang Construction Company Limited with 100% charter capital owned by Tan Cang Saigon Corporation. The company operates in the field of construction and repair of hydraulic works; dredging of river ports, seaports and leasing of shore cranes in the provinces of Quang Nam, Khanh Hoa, Vung Tau, Ho Chi Minh City, etc.
On October 21, 2022, nearly 3.28 million XDC shares were offered for initial public offering (about 36% of shares), with a starting price of VND 15,322/share. As a result, 3 investors registered to participate in the auction and successfully purchased 8,200 shares, with an average price of VND 15,502/share.
HNX then approved XDC to register to trade the winning and paid shares of 8,200 shares, with the starting date of trading on UpCOM being December 1, 2022.
XDC stock attracted the attention of the market when it suddenly increased vertically, bringing the market price up from 15,700 VND/share (session 24/4) to 999,900 VND/share (session 29/6), becoming the most expensive stock on the stock exchange at that time. Despite the shocking increase, only a few hundred units of this stock were traded each session, or even not traded at all.
By early August, XDC suddenly turned around and fell freely at the same speed as when it went up, down to only 98,300 VND/share at present.
According to XDC's semi-annual management financial statements, as of June 30, 2023, Saigon Newport Corporation Limited Company held nearly 7.9 million shares, equivalent to 87.35% of capital; Chairman of the Board of Directors Pham Van Tien held 4,000 shares, equivalent to 0.04% of capital; Board of Directors member and Director Nguyen Chi Dung held 3,200 shares, equivalent to 0.04% of capital; Supervisory Board member Nguyen Truong Giang held 1,200 shares (0.01% of capital); Deputy Director Tran Van Sang held 3,600 shares (0.04% of capital) and Deputy Director Pham Dinh Hung held 3,600 shares (0.04% of capital).
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