When will FLC, ROS stocks be traded again?

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Deputy Minister of Finance Nguyen Duc Chi answers questions from the press. Photo: VGP

At the Government's regular press conference in August 2022 on the evening of September 6, the press raised questions about the delisting of FLC and ROS stocks as well as investors' interests. Responding to this question, Deputy Minister Nguyen Duc Chi said that for the additional prosecution against FLC leaders on crimes in the stock market, because this information is under investigation and is confidential.

The Deputy Minister of Finance said that when the investigation is concluded, the responsibility of both individuals and collectives, including state management agencies, will be disclosed.

To prevent similar incidents, Deputy Minister Nguyen Duc Chi said that on September 5 the Ministry of Finance issued a Directive on strengthening the management, inspection and supervision to ensure safety and stability in the stock market. The directive has provided a series of solutions to prevent and handle these behaviors.

Deputy Minister Nguyen Duc Chi said in order for FLC and ROS stock to be traded again, they must overcome the violations that caused their stocks to be stopped and canceled transactions and submit a request for restoring the stock transaction. For FLC stock, it is necessary to have an audit report for 2021 and an audit report for the first six months of 2022, and hold a general shareholders meeting. When the company meets these conditions and submits an application for resuming transaction, the transaction will be recovered.

Regarding the interests of investors for the above stocks, the Deputy Minister of Finance said that the delisting will naturally affect the interests of investors. However, as shareholders of the company, investors must state their opinions at the general shareholders meeting and request the company’s leaders to remedy violations as soon as possible, to ensure investors’ interests.

The Ho Chi Minh City Stock Exchange issued a decision to transfer FLC stocks of FLC Group from restricted trading to trading suspension from September 9. The reason was that FLC Group continues to violate regulations on information disclosure after it was listed on the restricted trading, suspension from trading in accordance with regulations on listing and trading of listed securities.

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At the same time, the Ho Chi Minh Stock Exchange also made a decision to delist nearly 568 million ROS shares of FLC Faros Construction Joint Stock Company, effective from September 5. The reason is that FLC Faros has seriously violated the obligation on information disclosure and other cases, so the delisting to protect the interests of investors is a must.