A stock will be delisted from May 9.

According to the decision of the Ho Chi Minh City Stock Exchange (HoSE) issued on April 9, AGM shares of An Giang Import-Export Joint Stock Company (Angimex) will be delisted from May 9, 2025. The last trading day of AGM shares on HoSE is May 8, 2025.

The reason given by HoSE is that Angimex has suffered losses for 3 consecutive years based on the audited consolidated financial statements (FS) of 2022, 2023, 2024; the total accumulated loss exceeds the actual contributed charter capital and negative equity based on the audited consolidated FS of 2024, which is a case of securities being delisted according to regulations.

On the same day, at the request of HoSE, Angimex issued a document explaining why AGM shares hit the floor for 5 consecutive sessions from April 2-9, 2025.

The last trading day of AGM shares on HoSE is May 8, 2025.

Stating the reasons affecting the stock price, AGM said that the company had suffered losses for three consecutive years, had negative equity, and accumulated losses exceeding its actual contributed charter capital, leading to the forced delisting. In addition, AGM's accounts at three banks were frozen. According to AGM, the company had no impact on the stock price on the market, which was determined by market supply and demand.

At the end of February 2025, Angimex's leadership approved a plan to sell all 49% of its capital at Angimex Furious. The buyer could be The Golden Group JSC (UPCoM: TGG) - formerly Louis Capital JSC and the party holding the remaining 51% of capital. The proceeds from the divestment at Angimex Furious will be used to pay off debts and supplement working capital for business operations.

Regarding the business situation, Angimex's audited financial statements for 2024 showed that the company recorded a net loss of nearly VND 260 billion - the highest loss in its history of operations, a slight increase of 3% compared to the loss of VND 251 billion recorded before the audit. The main reason came from the sharp increase in inventory provisions after the audit, the difference in cost of goods sold, along with adjustments in the financial statements of subsidiaries and associates.

Compared to 2023, AGM's revenue in 2024 decreased sharply by 69%, reaching only nearly 241 billion VND. The decrease in revenue is explained by the fact that the company has divested capital from member units, so it can no longer consolidate business results, in addition to facing great pressure on working capital, while the cost of provisions for bad debts also increased.

An Giang Import-Export Joint Stock Company was established and officially put into operation in 1976, formerly known as An Giang Foreign Trade Company. The company operates in the fields of food production, processing and trading; trade in vehicles, agricultural materials and high-tech agricultural services...

Thu An

Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/mot-co-phieu-se-bi-huy-niem-yet-tu-ngay-9-5/20250410045748631