HCMC – The Hochiminh Stock Exchange (HoSE) has announced it will delist all the 28.7 million-plus shares of Royal International Corporation (RIC) as from May 16 as the firm has racked up heavy losses for three consecutive years..
The RIC shares will be traded on the southern bourse in the final session on May 13, the local media reported.
Royal International Corporation, the owner of the Royal Halong Casino in Quang Ninh Province, is the only casino operator to list shares on the stock exchange.
According to its audited financial statements, RIC posted an after-tax profit of negative VND72.9 billion and VND81.5 billion in 2019 and 2020, respectively. In 2021, the firm reported a loss of over VND102 billion, taking its accumulated loss to VND412 billion.
RIC plunged into its floor price at the close today, April 19, extending its losing streak for a fifth straight session.
Weak cash flow and strong sells of many bluechips sent the VN-Index of the southern bourse down 26.15 points, or 1.83%, from the session earlier at 1,406.45, with 101 gainers and 371 losers. Over 703 million shares worth VND22.7 trillion changed hands, down 15% and 13% against the previous session, respectively.
Only three stocks, including low-cost carrier VJC, property developer KDH and steelmaker HPG, in the bluechip group gained ground, while the rest either stood at the reference price or finished down.
Lender VPB took the lead by liquidity on the southern exchange with over 24 million shares changing hands, but ended the day down.
On the Hanoi Stock Exchange, the HNX-Index slid 2.59% to its intraday low at 392.69 points, with 52 of 183 falling stocks tumbling to their floor prices.