Bamboo Capital shares put on warning after former leader is prosecuted

After being put on trading restriction, Bamboo Capital shares continue to be put on warning list.

The Ho Chi Minh City Stock Exchange (HOSE) has just put BCG shares of Bamboo Capital Group Joint Stock Company on the warning list since September 22. The reason is that this enterprise is 15 days late in submitting its semi-annual audited financial report compared to the prescribed deadline.

Previously, at the end of May, BCG shares were restricted from trading because they were 45 days late in submitting their audited financial statements for 2024. In early July, the company was again warned because it had not yet held its annual general meeting of shareholders.

More than 880 million shares of Bamboo Capital are under warning.

PHOTO: DAO NGOC THACH

According to the new regulations of the KRX system, restricted stocks are subject to multiple periodic order matching with each session lasting 15 minutes and are not allowed to be traded in negotiated or odd lots. Currently, there are more than 880 million BCG shares listed on HOSE and priced at nearly VND3,400/share, down nearly 50% compared to the end of 2024.

BCG explained that recently, its subsidiaries and associates are still in the process of completing the 2024 audited financial statements, the 1st quarter 2025 financial statements and the 2nd quarter 2025 financial statements. In addition, the company is coordinating with related parties to resolve issues related to bonds and debt settlement, which is an important basis for completing the financial statements. Therefore, the company has not been able to issue the 2025 semi-annual audited financial statements on time.

In early March, after the company announced the decision to prosecute the case and the decision to prosecute the former Chairman of the Board of Directors Nguyen Ho Nam, there were consecutive changes in senior personnel. The position of General Director changed more strongly, changing 4 times in just half a year. After Mr. Nguyen Tung Lam left the position at the end of February, Mr. Ho Viet Thuy, Mr. Pham Huu Quoc and most recently, Mr. Ng Wee Siong Leonard succeeded him. The violations related to bonds in recent times are negatively affecting the business situation of Bamboo Capital and some member companies in the ecosystem.

According to the consolidated financial report for the fourth quarter of 2024, this enterprise achieved revenue of more than VND 4,370 billion and after-tax profit of VND 845 billion in the whole year of 2024.

Source: https://thanhnien.vn/co-phieu-bamboo-capital-bi-dua-vao-canh-bao-sau-khi-cuu-lanh-dao-bi-khoi-to-185250919143241816.htm