"Hiding" information, Shark Thuy's company was fined more than 100 million VND

The Hanoi Stock Exchange (HNX) has just announced that the State Securities Commission has issued a decision to sanction administrative violations in the field of securities and the securities market against Apax Holdings Investment Joint Stock Company (stock code: IBC) with Mr. Nguyen Ngoc Thuy (Shark Thuy) as Chairman of the Board of Directors.

In particular, Apax Holdings was fined 20 million VND for not fully complying with legal regulations on information disclosure means. Specifically, the company's website (https://apaxholdings.com.vn/) is currently no longer active.

In addition, Apax Holdings was also fined VND92.5 million for not disclosing information that must be disclosed according to regulations such as financial statements, reports on the use of money from bond issuance, reports on the implementation of commitments of the issuing enterprise to bondholders, etc.

In total, the amount of money that Apax Holdings was fined was 112.5 million VND.

IBC stock has been flat for months Source: Fireant

Previously, the State Securities Commission also fined Apax Holdings' subsidiary, Apax English Joint Stock Company (Apax Leaders), VND92.5 million for failing to disclose information required to be disclosed as prescribed.

In December 2023, more than 83 million IBC shares of Apax Holdings were delisted from HOSE due to serious violations of information disclosure obligations.

Regarding Shark Thuy, at the end of March 2024, he was prosecuted and temporarily detained for the crime of "Fraudulent appropriation of property".

Source: https://nld.com.vn/em-thong-tin-cong-ty-cua-shark-thuy-bi-phat-196240520211805883.htm