Record 37 stocks delisted in 2013

The stock market of Vietnam witnessed a record 37 companies delisted from exchanges this year, compared to 22 delisted stocks in 2012.

Of those, five stocks were delisted after merging and restructuring, and 13 stocks were delisted after reporting losses for three consecutive years or due to their aggregate losses exceeding their equity.

Of note, four companies were forced to be delisted due to violating regulations when they did not publish financial information.

In related news, the State Securities Commission (SSC) has approved Sao Viet Securities being dissolved in accordance with the Law on Enterprises.

The securities company must report to the SSC within seven days about its procedures for dissolution so the SSC is able to issue a decision on revocation of its licence.

Previously, Sao Viet Securities announced the list of stakeholders to receive dividend payments.

Deutsche Bank AG, London Branch, was fined VND70 million (US$3,300) by the SSC for being late in reporting that it is no longer a large stakeholder in Tu Liem Urban Development (NTL) and Hoa Phat Group (HPG).

The fine was based on the Government's Decree N° 85/2010/ND-CP about administrative punishments in the securities sector.

In June, the bank sold shares of NTL and HPG, reducing its holdings to below 5 percent.

Source: VNA

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