Two FLC family stocks were suspended from trading immediately after being listed on UPCoM.

The Hanoi Stock Exchange (HNX) has just approved the registration of trading of two FLC stocks, AMD and GAB. Specifically, HNX approved FLC Stone Investment and Minerals Joint Stock Company (stock code AMD) to register to trade more than 163.5 million AMD shares, with the first trading day being July 19 and the reference price of VND1,100/share. However, on the same day, HNX also decided to suspend trading of AMD shares from July 19.

Similarly, HNX also approved FLC Mining Investment and Asset Management Joint Stock Company (stock code GAB) to register to trade more than 14.9 million shares with the first trading day being July 19 and the reference price of VND196,400/share. However, GAB shares have also been suspended from trading since July 19.

The reason is that the above registered trading organizations are companies that have been delisted due to serious violations of information disclosure obligations as prescribed. Within 15 working days from the date of suspension of trading of their shares, the above companies must send a written document to HNX explaining the reasons and proposing a solution to overcome the suspension of trading.

Thus, although the two FLC "family" stocks are listed on UPCoM, trading is still suspended, similar to other stocks in this ecosystem such as FLC, ROS...

Previously, at the end of June, the Ho Chi Minh City Stock Exchange (HOSE) decided to delist GAB and AMD shares from July 7 due to the companies' serious violations of information disclosure obligations.

Regarding FLC shares of FLC Group Corporation, HNX recently announced the decision to put FLC shares on warning list from July 13. The reason is that the organization registering for trading has not held the 2023 Annual General Meeting of Shareholders within the maximum period from the end of the fiscal year as prescribed.

Thus, since the time of transferring to trading on UPCoM, FLC shares have continuously received decisions from HNX. Previously, this stock was put on the restricted trading list from May 22 due to the delay in submitting audited financial statements for 2022 for more than 45 days. In addition, FLC is still under trading suspension since February 24 due to serious violations of information disclosure obligations...