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Enterprises must explain when stock prices hit the ceiling and hit the floor for 5 consecutive sessions

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State Securities Committee Recently, there has been an official dispatch instructing the Stock Exchanges on requesting the listing organization / organization to register for trading to explain when the share price rises to the ceiling or drops to the floor consecutively based on the provisions of Article 12. Circular No. 96/2020/TT-BTC dated November 16, 2020 of the Minister of Finance guiding the above information disclosure stock market.

Accordingly, the Hanoi Stock Exchange (HNX) has sent an official dispatch to businesses requesting that within 24 hours from the time the stock price rises to the ceiling or drops to the floor for 5 consecutive sessions or more, reporting, disclosing information related to the company that affects stock price movements.

The Hanoi Stock Exchange (HNX) said it would publish the entire content of the explanation reports of listed organizations and registered trading organizations on the Department’s website.

This is one of the synchronous solutions that the Ministry of Finance and the State Securities Commission have come up with to stabilize the market, strengthen supervision, and ensure that the market operates openly and transparently.

Previously, the State Securities Commission issued Official Letter No. 2828/UBCK-VP guiding the Stock Exchanges on requesting listing organizations/organizations to register for transactions to explain when the share price increased to the ceiling. or decrease to the floor continuously according to the provisions of Article 12 of Circular No. 96/2020/TT-BTC dated November 16, 2020 of the Minister of Finance guiding the disclosure of information on the stock market.

Specifically, according to Article 12, a public company must disclose information within 24 hours from the date of receipt of a request from the State Securities Commission or the Stock Exchange where the company is listed or registered. transactions when one of the following events occurs: Events that seriously affect the legitimate interests of investors; There is information regarding the company that greatly affects the stock price and it is necessary to confirm that information.

At the same time, the content of information disclosed upon request must clearly state the events requested to be announced by the State Securities Commission or the Stock Exchange; the cause and the company’s assessment of the authenticity of that event, solutions to remedy (if any).

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