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Property firm chief blames staff for failure to notify exchange about share sale

By Anh Tu   August 17, 2023 | 06:33 pm PT
Property firm chief blames staff for failure to notify exchange about share sale
An artist's impression of a building developed by LDG in Ho Chi Minh City. Photo courtesy of LDG
The chairman of property development company LDG Investment has blamed an employee for the sale of 2.6 million shares without advance disclosure.

Nguyen Khanh Hung said he had been on a business trip Tuesday and instructed a secretary to inform the Ho Chi Minh Stock Exchange (HoSE) before making the sale.

The person, a new recruit, delayed making the disclosure, he claimed.

The shares belonged to him and not the company, he added. The sale on Tuesday was worth VND16.7 billion (US$699,800).

HoSE has not announced the penalty yet but canceled the transaction on Wednesday.

LDG, established in 2010, develops housing in Ho Chi Minh City and Binh Duong and Dong Nai provinces.

 
 
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