Final blow to FLC Group as last subsidiary suspended from trading

Shares in CFS Investment and Import Export Trading JSC will be suspended from trading from March 14 due to a late submission of its H2/2022 financial statement.

The delay exceeded six months. The company will have to explain the reasons for the delay and remedy the situation, the Hanoi Stock Exchange (HNX) stated on Tuesday.

All stocks in FLC Group have already been suspended from trading.

Previously, FLC Stone Mining And Investment JSC had been suspended from trading from March 1 due to a late submission of its 2022 semi-annual financial statement by more than six months.

On February 14, the Ho Chi Minh Stock Exchange (HoSE) had cancelled the listing of nearly 710 million FLC shares in FLC Group from February 20 due to "serious violations of information disclosure obligations".

On February 24, Hanoi bourse HNX announced the decision to approve FLC's stock registration and a decision to put this code on trading suspension.

HNX said the reason was because the organization registering the transaction was a company that had to be delisted due to a serious breach of its obligations to disclose information, or the company was forced to delist because the Stock Exchange or the State Securities Commission considered it necessary to ensure the interests of investors.

In September 2022, the HoSE had also delisted ROS shares of FLC Faros Construction JSC from September 5, 2022 due to serious violations of obligations to disclose information or the Stock Exchange and the State Securities Commission deeming it necessary to delist to protect the interests of investors.

The HNX said it would consider registering ROS shares for trading on the unlisted public company market (UPCoM) after an official conclusion is reached by authorities on the firm's valid charter capital.

In addition, HAI, ART, and GAB stocks have also been suspended from trading.