HCMC – FLC Faros Construction JSC has been forced to delist its 576.6 million ROS shares from the Hochiminh Stock Exchange (HOSE), with delisting set to take place on September 5 this year.
HOSE made this move to protect the interests of investors as the company, an affiliate of Vietnam’s leading multi-sector company FLC Group, was found to have violated regulations on information disclosure and other issues.
Earlier, HOSE had decided to suspend this real estate developer from trading its ROS shares on the southern bourse from August 12, since the firm continued to violate information disclosure regulations after its ROS stock was put under trading restriction on May 25.
ROS shares were restricted from transacting on the southern bourse as the company submitted its audited 2021 financial report or reviewed its semi-annual financial report over 30 days later than required.
In addition, ROS was put under supervision by HOSE on July 11 this year.
On the southern bourse, the benchmark VN-Index added 11.72 points, or 0.92%, over the session earlier to close at 1,288.88 today, August 25. The HCMC market saw 279 stocks advancing and 168 others falling. Turnover on the bourse improved over 3% in volume and 2% in value against the previous session at over 623 million shares and VND15.4 trillion.
Housing developer VHM, real estate firm VIC, and State-own rubber group GVR were the top three contributors to the main index’s gain.
The HNX-Index on the Hanoi bourse also closed on an upbeat note as it edged up 0.19%, or gaining 0.57 points at 301.86.