Vietnam Airlines shares face restrictions for delay in filing financial statements
In this article (5)
Vietnam Airlines’ HVN shares will see trading restrictions from May 12 for failure to file its results in time.
The carrier has been more than 30 days late in submitting its audited consolidated financial statements for 2022, the Ho Chi Minh Stock Exchange (HoSE) said in a statement.
At the end of March Vietnam Airlines had sought permission from HoSE to delay the submission, but its request was turned down.
Now its shares will not be traded for at least two days a week.
The airline said earlier this month that due to its ongoing restructuring, it needs more time to complete its financial statements.
If the company fails to submit them 45 days after the deadline, its shares will be restricted.
HoSE had warned in February that HVN could be delisted if it posted losses for 2022.
Questions & Answers
Q.Why is Vietnam Airlines facing these restrictions?
Why is Vietnam Airlines facing these restrictions?
The restrictions are due to Vietnam Airlines failing to file its audited consolidated financial statements for 2022 on time. The airline was more than 30 days late in submitting these required documents.
Q.Has Vietnam Airlines previously tried to delay its submission?
Has Vietnam Airlines previously tried to delay its submission?
Yes, Vietnam Airlines sought permission from HoSE at the end of March to delay submitting its financial statements. However, HoSE turned down this request, leading to the current restrictions.
Q.Could Vietnam Airlines face further consequences if it doesn't submit its statements?
Could Vietnam Airlines face further consequences if it doesn't submit its statements?
Yes, if Vietnam Airlines fails to submit its statements 45 days after the deadline, further share restrictions will be imposed. HoSE also warned in February that the airline could be delisted if it posted losses for 2022.
Reader pulse
What does this mean for Vietnam Airlines' future?
19,563 votes so far