Singer Khanh Phuong was fined nearly 250 million VND for illegally buying stocks.

Recently, the State Securities Commission (SSC) issued Decision No. 514 on administrative sanctions in the field of securities and the securities market against Mr. Pham Khanh Phuong, located at 65G, Nguyen Thai Hoc, District 1, Ho Chi Minh City.

Specifically, Mr. Phuong was fined 150 million VND for not registering a public offering as required by law. Between June 23, 2022 and October 28, 2022, Mr. Phuong purchased more than 3 million shares of Song Da 1.01 Joint Stock Company (UPCoM: SJC), increasing his holding ratio from 0% to 45.5%.

On December 23, 2022, Mr. Phuong made a transaction to buy 100,000 SJC shares and sell 21,800 SJC shares, increasing his holding ratio to nearly 1.8 million SJC shares, equivalent to 25.81%, but did not register for a public offering.

This individual must remedy the consequences by being forced to give up the right to vote directly or through an authorized representative on the shares obtained from the violation and forced to sell shares to reduce the holding ratio below the level required to make a public offering for the violation within a maximum period of 6 months from the date the decision to apply this measure takes effect.

In addition, Mr. Phuong must also pay an additional VND60 million to the State Securities Commission for failing to report when owning 5% or more of the voting shares of a public company.

On October 14, 2022, Mr. Phuong bought nearly 97,000 SJC shares, resulting in an increase in ownership volume from 289,200 SJC shares (4.17%) to 385,800 SJC shares (5.56%), becoming a major shareholder of SJC but did not report to the Hanoi Stock Exchange (HNX).

SJC stock price movements over the past year (Source: TradingView).

In addition, Mr. Phuong continued to be fined 35 million VND for not reporting any changes in the percentage of shares owned over the threshold of 1% of the number of voting shares.

From October 21, 2022 to December 30, 2022, Mr. Phuong continuously bought and sold SJC shares, changing the share ownership ratio of Mr. Phuong and the group of related people after the transaction exceeding the threshold of 1% of SJC's voting shares, specifically increasing from 5.56% to 8.42%; increasing from 47.66% to 48.62%; decreasing from 48.13% to 24.53%; decreasing from 48.06% to 47.83%; increasing from 47.83% to 48.26%; increasing from 25.81% to 26.04%.

However, Mr. Phuong did not report/reported late to the Hanoi Stock Exchange when there was a change in the ownership ratio of SJC shares. Thus, the total amount of fine imposed by the State Securities Commission is 245 million VND.

On the stock market, at the end of the trading session on June 28, SJC shares closed at the reference price of VND 14,300/share. Compared to the peak in early 2023, this stock has decreased by 24% in market price .

Source: https://www.nguoiduatin.vn/ca-si-khanh-phuong-bi-phat-gan-250-trieu-dong-vi-mua-chui-co-phieu-a614783.html