Tech firm VNG stock restricted for late financial disclosure

Starting this week, at VND740,000 ($31.52), the top priced stock in Vietnam, will be restricted to trading on Fridays only, according to the Hanoi Stock Exchange.

VNG was more than 45 days late in submitting its results.

It had sought a delay saying it has 33 subsidiaries and seven affiliates that operate in many countries, and it takes time to ensure the data is precisely reported and meets accounting standards in Vietnam and abroad.

VNZ listed at VND240,000 in January and rose at one point to VND1.3 million before dropping to the current level.

The Ho Chi Minh City-based company is an online game producer and operator of Vietnam’s popular messaging app, Zalo.