Ho Chi Minh City Stock Exchange (HoSE) has just decided to delist shares of Dong A Plastics Group Corporation (Code: DAG).

Specifically, 60.3 million DAG shares, equivalent to a total par value of VND603 billion, will be subject to mandatory delisting from October 22, 2024. The reason is that the company has seriously violated its information disclosure obligations and is subject to mandatory delisting.

Previously, from August 15, 2024 to October 9, 2024, the DAG code was also suspended from trading and was considered for mandatory delisting by HoSE. Since then, Dong A Plastics' information disclosure violations have not been resolved.

Established in 2001, Dong A Plastic Group was formerly Dong A Plastic Production and Trading Company Limited. In 2006, the company transformed into a joint stock company with a charter capital of VND58 billion. In 2010, Dong A Plastic's stock code DAG was officially listed on HoSE with an initial volume of 10 million shares.

Dong A Plastics' business performance has been declining over the past two years. The most notable of these is the loss of VND606 billion in 2023. In the first half of 2024, the company reported an additional loss of VND66.6 billion, bringing the total undistributed accumulated loss to VND641 billion.

This undistributed accumulated loss is equivalent to 106.3% of charter capital, showing that almost all equity has been "blown away" after only 2 years of losses. The last recorded trading day of Dong A Plastics was on August 15, 2024 at a price of VND 1,430/share.