ANTD.VN - TGG shares of The Golden Group Joint Stock Company were forced to be delisted by HOSE due to continuous violations of information disclosure regulations.
TGG shares of The Golden Group Joint Stock Company (formerly Louis Capital) are under monitoring for violations: trading suspension and control.
Specifically, TGG was suspended for continuing to violate regulations on information disclosure on the stock market, after being placed on a restricted trading list. To date, TGG has not yet published its audited financial statements for 2022, 6 months after the prescribed deadline.
TGG is also under scrutiny for being 30 days late in submitting its 2023 semi-annual audited financial report. To date, TGG has not yet published its 2023 semi-annual audited financial report, which is 45 days past the deadline.
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Many investors suffered heavy losses because of "chasing" the peak of stocks in the "Louis ecosystem" |
HOSE said that on October 31, 2023, The Golden Group sent a letter requesting to facilitate the company to submit its 2022 audited financial statements no later than November 15, 2023. However, to date, the company has not yet announced its 2022 audited financial statements and its 2023 semi-annual audited financial statements.
Since the time of suspension of trading, TGG's information disclosure violations have not been resolved. HOSE believes that these violations are likely to continue to occur and last, affecting shareholders' rights.
Therefore, based on the provisions of Decree 155, the opinions of the State Securities Commission, the Vietnam Stock Exchange, and the Ho Chi Minh City Stock Exchange announce that it will carry out the mandatory delisting of TGG shares of The Golden Group Joint Stock Company.
The Golden Group, formerly known as Louis Capital, is a member of the Louis family of stocks. This is one of the stocks that was manipulated by Mr. Do Thanh Nhan (Chairman of the Board of Directors of Louis Holdings Corporation).
Under Mr. Nhan's manipulation tricks, TGG continuously increased its ceiling price, pulling the market price from iced tea (VND 1,200/share) to VND 74,800 in September 2021, surpassing a series of big names on the stock exchange at that time.
On April 20, 2022, the Ministry of Public Security's Investigation Police Agency issued a Decision to prosecute the case of "Stock market manipulation" occurring at Tri Viet Securities Joint Stock Company, Louis Holdings Joint Stock Company, Louis Capital Joint Stock Company, Louis Land Joint Stock Company and related units.
After Mr. Nhan was arrested, TGG and a series of stocks in the "Louis ecosystem" plummeted. These include: BII (Louis Land), APG (APG Securities), AGM ( An Giang Import-Export), SMT (Sametel), TDH (Thu Duc House), DDV (Dap - Vinachem), VKC (Vinh Khanh Plastic Cable)...
Up to now, BII code has been delisted, AGM has been suspended from trading, VKC has been restricted from trading, and TDH has been placed under warning.
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