Three stocks of the “FLC family” have their margin cut
According to Ho Chi Minh City Stock Exchange (HOSE), the suspension for securities companies to provide margin for the above shares, because all three of the above enterprises are late to disclose information about the audited 2021 financial statements, 5 working days past due from the date of issue. information disclosure deadline. Thus, the “FLC family” has four members that are also margined, including: AMD, KLF, ART and FLC.
Previously, on April 5, the State Securities Commission required securities companies to report on outstanding margin loans for securities trading. shares of the FLC . family including: FLC, AMD, KLF, ART, HAI, ROS, GAB.
In the report, the committee suggested that securities companies must clearly state the contents including the outstanding balance of margin trading loans of all securities trading accounts opened at the company and the amount of margin securities made. collateral for margin trading loans corresponding to each securities code.
Regarding the case at FLC Group, on March 29, Mr. Trinh Van Quyet, who used to hold the position of Chairman of FLC Group, was prosecuted and detained for manipulating the stock market, causing shares of the FLC family to have negative consequences. The session fluctuated strongly, continuously dropping to the white floor, buyers, but then there were sessions of simultaneous ceiling gains with the matched volume up to hundreds of millions of shares. FLC Group said that the case related to Mr. Quyet’s “personal affairs” in securities buying and selling transactions.
As of January 2022, the Chairman of FLC Group owned more than 215 million FLC shares, equivalent to about 30% of the capital, and tens of millions of shares in the member companies of this group. Currently, Mr. Dang Tat Thang, Vice Chairman of FLC and Bamboo Airways, is in charge of the chairman role in both businesses instead of Mr. Quyet.
The case that caused FLC Chairman and others to be investigated stems from the afternoon of January 10, Mr. Quyet was found to have sold 74.8 million FLC shares but did not disclose information before.
On January 11, the Ho Chi Minh City Stock Exchange (HOSE) issued a notice to cancel this transaction. This is an unprecedented measure on the Vietnamese stock market. Many investors also get refunds for buying FLC shares.
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