Nearly 710 million FLC shares are still suspended from trading.

The Hanoi Stock Exchange (HNX) has just put FLC shares under trading restrictions. However, this code is still suspended on UPCoM.

Previously, FLC shares were forced to delist from the Ho Chi Minh City Stock Exchange (HoSE), then transferred to the HNX and were suspended from trading.

HNX has just issued a decision to put FLC shares under restricted trading.

HNX transferred FLC to restricted trading status based on review of audited financial statements. The reason is that FLC delayed the announcement of its audited financial statements for 2022 by more than 45 days.

FLC has been restricted from trading since May 25. Within 15 days from the date the shares are restricted from trading, FLC must send a written explanation to HNX about the cause and remedial measures.

At the same time, FLC shares continue to be suspended from trading according to the decision dated February 24 because the organization registering for trading is a company that has been forced to delist due to serious violations of information disclosure obligations and other cases where the Stock Exchange or the State Securities Commission deems it necessary to delist to protect the interests of investors.

Previously, FLC announced a roadmap to overcome information disclosure violations to the State Securities Commission and HNX.

FLC said that UHY Auditing and Consulting LLC has drafted FLC's 2021 financial statements. However, in order to reach a consensus between the two parties on the audit opinion, UHY and FLC are jointly carrying out additional procedures as a basis for issuing appropriate audit opinions.

According to FLC's document, the official audited financial report for 2021 will be announced within 3 days after the two parties agree on the content and no later than May 25, 2023. The Group commits to promptly complete and announce the 2021 annual report within 20 days from the date of announcement of the audited 2021 financial report.

Previously, on February 20, HoSE had compulsorily delisted nearly 710 million FLC shares due to serious violations of information disclosure obligations and other cases. On February 22, the Vietnam Securities Depository transferred FLC share registration and depository data from HoSE to UPCoM.

HNX said that after being forced to delist by HoSE, FLC Group still meets the conditions of being a public company, so FLC shares have been approved by HNX to register for trading on UPCoM.

Source