'Shark' Thuy's IBC shares were delisted and stopped trading on UPCoM.

The Hanoi Stock Exchange has just announced that nearly 83.2 million IBC shares of Apax Holdings Investment Joint Stock Company will be traded on UPCoM from December 15 after being delisted from HOSE. However, this stock has also been suspended from trading since December 15 because it is subject to compulsory delisting due to serious violations of information disclosure obligations; it is a case of shares being suspended from trading according to regulations. This company is chaired by Mr. Nguyen Ngoc Thuy - the person known as "Shark" Thuy.

"Shark" Thuy (standing) in a conversation with parents in Ho Chi Minh City

Before being forced to delist on HOSE, IBC shares were on three monitoring lists for violations, including trading suspension due to the listing organization continuing to violate regulations on information disclosure on the stock market after being placed on restricted trading; the shares were controlled due to being late in submitting the audited semi-annual financial report for 2023 by more than 30 days compared to the prescribed time; and were warned because the listing organization had not held the Annual General Meeting of Shareholders for more than 6 months from the end of the fiscal year.

'Shark' Thuy's IBC shares were delisted and stopped trading on UPCoM.

To date, the company has not yet announced the 2022 audited financial statements; 2022 annual report, 2023 first quarter, second quarter and semi-annual audited financial statements; 2023 first half management report and has not yet organized the 2023 annual General Meeting of Shareholders.

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HOSE also emphasized that since the time of suspension of trading, the above violations of IBC have not been remedied, are likely to continue and prolong, seriously violating the obligation to disclose information and affecting the rights of shareholders.

Previously, at the end of November, IBC announced that 3 members of the board of directors, including Mr. Quach Manh Hao, Nguyen Minh Chinh and Nguyen Trong Quynh, had submitted their resignations, all for personal reasons. This led to IBC's Board of Directors having only two people left, including Chairman Nguyen Ngoc Thuy - "Shark" Thuy - and one member, Mr. Nguyen Ngoc Khanh.

Source: https://thanhnien.vn/co-phieu-ibc-cua-shark-thuy-bi-huy-niem-yet-ngung-giao-dich-ca-upcom-185231212143133974.htm