Louis Holdings of Mr. Do Thanh Nhan banned from trading for 2 months
Joint Stock Company Louis Holdings was fined and suspended from trading securities for 2 months for buying shares of an “undercover” subsidiary.
According to the recently issued decision of the State Securities Commission, Louis Holdings was administratively fined over 161.2 million VND and suspended from securities trading activities for 2 months. The reason is that this business has traded the TGG shares of the Louis Capital Joint Stock Company for more than the listed value.
Specifically, on November 11, 2021, Louis Holdings registered to purchase 3.6 million shares of TGG from November 17 to December 15, 2021. However, the company chaired by Mr. Do Thanh Nhan purchased more than 4.6 million shares of TGG in the period 17-30 November 2021. Actual purchase volume exceeded 1 million shares.
In the stock market, TGG’s stock market price has been very volatile recently. At the start of last week, this code was on the floor for two consecutive sessions and then hit a high in the next session. Since then, the market price of this code has fluctuated. Yesterday’s close, ticker TGG fell 2.78% to VND26,250 per unit.
This is not the first time the “Louis” ecosystem has been sanctioned. At the beginning of the year, Louis Capital was also fined VND 232.5 million for many errors such as violating information disclosure, failing to ensure at least one third of the total number of non-executive members of the Board of Directors, failing to ensure the structure and number of independent members of the Board of Directors, not appointing a person in charge of governance. manage the company as determined.
Last year, the Louis Holdings Joint Stock Company emerged when from a prominent rice company to acquire many multi-industry businesses, creating “Louis Family” Ecosystem. In just one year, Mr. Do Thanh Nhan’s business has become a major shareholder of 5 units including Louis Capital Joint Stock Company (TGG), Louis Land Joint Stock Company (BII), Lam Dong Pharmaceutical Joint Stock Company.(Ladophar – LDP) , Company Giang Export-Import Joint Stock (Angimex – AGM) and Sametel Joint Stock Company (SMT).
Recently, “Louis name” continues to want to accept new members – Joint Trading Company Consulting Service Hoang Quan Real Estate (HQC). In the middle of this month, 42 shareholders holding 10.25% of HQC’s capital submitted documents to nominate Nguyen Giang Quyen to be elected as a member of the Board of Directors for the term of 2020-2024 and proposed to include this content in the agenda of the meeting Every year in 2022 for consideration and approval.
Among the 42 investors mentioned above, two institutional shareholders linked to Louis Holdings include Ladophar and APG Securities – the former major shareholder being Louis Capital. Previously, Ms. Nguyen Giang Quyen had just been appointed General Director of Louis Land since February 17, replacing Mr. Luc Tan Huy.
Siddhartha
at Blogtuan.info – Source: vnexpress.net – Read the original article here
