Airport operator stock suspended from trading for failure to announce AGM date

By Dat Nguyen July 22, 2021 | 08:54 pm PT

An airport lands at Tan Son Nhat International Airport in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

The Hanoi bourse has suspended trading in the shares of airport operator Airports Corporation of Vietnam on the Unlisted Public Company Market for five days for delayed filing of disclosures.

The trading will be suspended from July 22 to 26 since the company has not announced the date for this year’s annual general meeting within six months from the end of the previous financial year, according to a statement of the Hanoi Stock Exchange (HNX).

The state-owned ACV had earlier planned to hold the meeting online on June 28 but later scrapped the plan and said it would announce a new date after getting approval from authorities.

The Ministry of Transport owns a 95.4 percent stake in the company, which operates 22 airports nationwide. ACV is also building the Long Thanh International Airport.

It has the highest market cap on UPCoM and ninth highest on any bourse in the country at nearly VND160 trillion ($6.95 billion). The share trades at around VND73,000.

The HNX has also suspended trading in the shares of 56 other companies for five days for similar delays, including Vinafood II (VSF) and garment maker Vinatex Da Nang (VDN).