Nearly 940 million shares of Tan Tao Group are restricted from trading.

The Ho Chi Minh City Stock Exchange (HOSE) has just announced its decision to put the stock code ITA of Tan Tao Investment and Industry Corporation under restricted trading. Accordingly, ITA shares will only be traded in the afternoon session from July 16. The reason is that the company is late in submitting the 2023 Audited Financial Report for more than 45 days as prescribed.

Nearly 940 ITA shares are restricted from trading from July 16.

According to the previous announcement of HOSE in early July, on April 23, the exchange sent an official dispatch reminding ITA about the delay in submitting the 2023 Audited Financial Statements and the 2023 Annual Report. The State Securities Commission also sent an official dispatch responding to ITA about the delay in information disclosure. After that, ITA responded in an official dispatch on June 24 but did not provide documents and evidence as a basis for the delay in submitting the 2023 Audited Financial Statements and the 2023 Annual Report due to force majeure.

Thus, nearly 940 million ITA shares are only allowed to be bought and sold in the afternoon session next week. ITA shares are currently priced at VND4,490, down 30% compared to the beginning of the year.

At the 2024 Annual General Meeting of Shareholders held at the end of June, Mr. Nguyen Thanh Phong, General Director of ITA, said that since 2022, ITA has encountered difficulties when HOSE and the State Securities Commission suspended the practice of auditors who had audited ITA, causing auditing companies to leave ITA. The Board of Directors has made every effort to convince the auditing companies, but currently no unit dares to audit the company... Due to force majeure, the company has sent documents to HOSE and the State Securities Commission to temporarily postpone the disclosure of information on the Audited Financial Statements and the 2023 Annual Report as prescribed.

Source: https://thanhnien.vn/gan-940-trieu-co-phieu-tap-doan-tan-tao-bi-han-che-giao-dich-185240711091551197.htm