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Vietnam Airlines faces delisting

The Hochiminh Stock Exchange has announced that the HVN shares of Vietnam Airlines would be delisted if the airline’s business results worsen this year.

The HVN stock is put on a warning list as the national flag air carrier posted a negative equity of VND2.16 trillion and a negative after-tax profit in two years in its financial statement of the first quarter.

Under the Securities Law, a company that incurs a loss for three consecutive years, has an accumulated loss exceeding its charter capital, or records negative equity in the latest annual financial report will face delisting.

In the first half of the year, Vietnam Airlines incurred a consolidated loss of over VND5.1 trillion, raising its accumulated loss to VND28.9 trillion as of June 30, while its equity was negative VND4.9 trillion.

In 2022, the airline looks to book over VND45.2 trillion in revenue, a 2.3-fold year-on-year rise and a loss of VND9.3 trillion, down 23.5% year-on-year. The targets are exclusive of the proceeds from its divestment in some of its members.

Last year, Vietnam Airlines issued some 800 million shares to its existing shareholders to raise its charter capital to some VND8 trillion, preventing the stock from delisting, the local media reported.

The bad news sent HVN down to its daily floor price at the close today, September 8.

On the HCMC bourse, market breadth turned negative as losers outnumbered gainers by 317 to 151. The VN-Index slid 8.57 points, or 0.69%, from the session earlier, at 1,234.6, due to the poor performance of bluechips.

Over 599 million shares worth VND14.4 trillion changed hands, down 30% in volume and 29% in value against the previous session.

Many bank stocks lost ground and became major drags of the main index.

Farming stock HAG plunged by 3.6%, but took the lead by liquidity on bourse with 28.6 million shares traded.

On the Hanoi Stock Exchange, the HNX-Index fell 1.91 points, or 0.67%, from the session earlier, at 282.15.

Petroleum stock PVS was the most actively traded ticker on the northern bourse with a matching volume of some 12 million shares, but it closed the session down.


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