Canceled 9 rounds of bond sales of 3 companies under Tan Hoang Minh Group

On April 4, the State Securities Commission informed about the cancellation of 9 bond offerings from July 2021 to March 2022 of companies in the Tan Hoang Minh Group ecosystem.

Viet Star Real Estate Investment Company Limited (Viet Star Company), Winter Palace Joint Stock Company (Winter Palace Company), Investment and Hotel Service Joint Stock Company Soleil (Soleil Company) belongs to Tan Hoang Minh Hotel Trading Service Company Limited (Tan Hoang Minh Group) which are not public companies.

These enterprises have conducted 9 separate bond offerings with a total value of VND 10,030 billion during the period from July 2021 to March 2022 according to the provisions of Decree No. On December 31, 2020, the Government stipulates the offering and trading of individual corporate bonds in the domestic market, the offering for sale of corporate bonds to the international market and the publication of information on the information page about corporate bonds of the Hanoi Stock Exchange (HNX) on these offerings.

Pursuant to the dossiers, documents and proposals of competent authorities on the cancellation of bond issuances of Viet Star Company, Winter Palace Company, Soleil Company under Tan Hoang Minh Group, have acts of disclosing untruthful information, concealing information in private bond issuance; Pursuant to the provisions of the Law on Securities in 2019, Decree No. 153/2020/ND-CP, on April 3, 2022, the State Securities Commission issued Decision No. 181/QD-UBCK canceling 9 installments offering bonds from July 2021 to March 2022 with a total value of VND 10,030 billion of Viet Star Company, Winter Palace Company, Soleil Company under Tan Hoang Minh Group.

According to this Decision, bond registration and depository organizations are responsible for stopping the transfer of ownership of bonds of Viet Star Company, Winter Palace Company, Soleil Company of Tan Hoang Minh Group in the 9 bond offerings from July 2021 to March 2022.

The Hanoi Stock Exchange (HNX) is responsible for disclosing information on the HNX’s corporate bond information page about the cancellation of the above bond offerings.

Vietnamese Star companies, Winter Palace Company, Soleil Company and Tan Hoang Minh Group are responsible for implementing this Decision.

The Decision takes effect from April 3, 2022.

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