VNG's most expensive stock on the floor is restricted from trading again

The Hanoi Stock Exchange (HNX) announced that it would put the stock code VNZ of VNG Corporation under restricted trading from October 25. Accordingly, the most valuable stock on the stock exchange, VNG, will only be traded on Fridays every week.

The reason is that VNG is late in submitting the audited 2023 Semi-Annual Financial Report more than 45 days from the end of the information disclosure deadline, which falls under the case of restricted transactions according to regulations.

VNG has become the most valuable stock on the Vietnamese stock exchange since the beginning of this year, continuously hitting the ceiling after being listed on UPCoM and exceeding 1.5 million VND. However, after a series of peak days due to too few sales, this stock quickly turned around and plummeted. Currently, the code VNZ is at 802,000 VND, down 45% from the highest price at the beginning of the year. However, this is still the most valuable stock on the Vietnamese stock exchange.

This is not the first time VNZ shares have been placed on trading restrictions. Previously, in May, VNZ was also placed on trading restrictions due to late submission of the 2022 audited financial statements. After only 10 days, this stock was released from trading restrictions after VNG submitted its 2022 audited financial statements.

According to the self-prepared Financial Report, accumulated revenue in the first 6 months of 2023, VNG achieved 4,098 billion VND, an increase of 12% over the same period last year. After deducting expenses, VNG lost nearly 40 billion VND after tax, significantly improving from the loss of nearly 510 billion VND in the same period last year.

At the end of August, VNG Limited - a major shareholder of VNG - officially filed an application for an initial public offering (IPO) of Class A common shares on the Nasdaq Global Select Market with the trading code VNG. However, recent information shows that the IPO plan has been postponed to 2024 when the timing is more favorable.

Source: https://thanhnien.vn/co-phieu-vng-dat-gia-nhat-san-lai-bi-han-che-giao-dich-185231025121104347.htm