3 'APEC family' companies speak out about stock price manipulation investigation

On June 24, three "APEC family" companies, including API, IDJ, and APS, simultaneously affirmed that they were not involved in the stock price manipulation case.

This message was sent by three units including Asia- Pacific Investment Joint Stock Company (API), Asia-Pacific Securities Joint Stock Company (APS), IDJ Vietnam Investment Joint Stock Company (IDJ) one day after the police announced the prosecution of the case to investigate the stock manipulation with three stock codes API, IDJ and APS. Currently, no one has been prosecuted, and the investigation agency has not provided details of the violations.

All three "APEC family" businesses affirmed that they are not related entities and/or have activities related to this incident. The incident has absolutely no impact or change to the long-term orientations, as well as the normal operations of API, APS and IDJ. The legitimate rights and interests of customers, shareholders, and partners who are transacting and cooperating with the three companies are still guaranteed.

As soon as information about the investigation was received, the management of the three companies met and proposed measures and plans to ensure stable business operations in the new situation, in accordance with the set goals and plans. Since the case is still under investigation and there is no official conclusion, the three companies will update customers, shareholders and partners fully and promptly.

Previously, the State Securities Commission also requested API, APS, and IDJ to disclose information as required and report to the Commission and the Stock Exchange as required by law. This unit affirmed that it would continue to closely coordinate with the authorities in handling the case.

At the end of the week on June 23, the three stocks in the APEC family all remained green. Of which, API increased by 3.3%, IDJ by 3.1% and APS by 2.9%.

Previously, at the end of 2021, this group became a phenomenon in the stock market when it recorded a multi-fold increase in just a short period of time. From August to November 2021, API shares increased from the price range of 7,600 VND to nearly 50,000 VND, IDJ increased from 7,500 VND to more than 42,000 VND, and APS also increased dramatically many times.

Anh Tu

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