The most expensive stock on the stock exchange is restricted from trading

The Hanoi Stock Exchange (HNX) has just announced its decision to put VNZ shares of VNG Corporation under restricted trading starting today, October 25. Accordingly, VNZ shares on the UPCoM market will only be traded on Fridays every week.

VNZ shares are restricted from trading from today

The reason is that VNG is late in submitting the audited semi-annual financial report for 2023 more than 45 days from the deadline for information disclosure as prescribed.

This is the second time VNZ shares have been “sentenced” to trading restrictions. The first time was from May 25 to June 5, also due to the delay in submitting audited financial statements for 2022.

VNZ shares were once the center of attention when they continuously hit the ceiling after being listed on UPCoM, bringing the market price to the most expensive level in the Vietnamese stock market. At one point, the price of this stock increased to more than 1.3 million VND/share.

Before being restricted from trading, VNZ closed the trading session on October 24 at VND802,000/share.

Recently, Vietnam’s tech unicorn also postponed its initial public offering on Nasdaq due to unfavorable market conditions. According to Reuters, VNG’s IPO plan may be postponed until next year due to unstable market conditions. Previously, sources said that VNG’s IPO could be carried out in September or early October.