3 stocks “family FLC” were banned from trading in the morning session

The Ho Chi Minh Stock Exchange (HoSE) has just issued a decision to share of the FLC Group (FLC), FLC Faros Construction Company (ROS) and HAI Agricultural Pharmaceutical Company (HAI) from “control” to “restricted transactions” from June 1.

Accordingly, these codes can only be traded in the afternoon session by order matching and agreement methods. The reason is that these three companies are 45 days late in submitting their audited financial statements for 2021.

Being placed in restricted trading area may affect the liquidity of these stocks when the time for investors to buy and sell is only done in the afternoon session.

HoSE put 3 stocks of FLC, HAI, ROS into restricted trading from 1/6

On May 18, 2022, the State Securities Commission also issued Decision No. 110/QD-XPHC on sanctioning administrative violations in the field of securities and securities market for Group Joint Stock Company. FLC (Company).

Specifically, FLC was fined 100 million VND according to the provisions at point a, clause 4, Article 42 of Decree No. 156/2020/ND-CP dated December 31, 2020 of the Government on sanctioning of administrative violations in the field of law. securities and the stock market due to non-disclosure of information required to be disclosed in accordance with the law.

The State Securities Commission said that FLC did not disclose information on the information disclosure system of the State Securities Commission and the website of the Ho Chi Minh Stock Exchange with the following documents: Audited financial statements for the year 2021; Annual report 2021.

Previously, FLC was fined a total of VND 370 million for violations related to information disclosure such as: disclosing false information, failing to disclose information required by law, or public incomplete information disclosure.

Since Mr. Trinh Van Quyet was arrested for being involved in stock price manipulation, the related group of stocks had unusually increasing and decreasing trading sessions. Sometimes reaching the ceiling at the same time after having continuously dropped to the floor for many sessions. This group of stocks currently includes: FLC, ROS, HAI, KLF, ART, AMD…

At the end of yesterday’s trading session (May 25), the above codes fell deeply compared to 2 months ago. Specifically, FLC was VND 6,600 (down 70%), ROS was VND 4,400 (down nearly 67%); TWO is 3,400 VND (65% off)…

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