On March 13, four listed companies had to make reports to the HCM City Securities Trading Centre (HSTC), explaining why the companies’ share price hit the ceiling levels in the last five consecutive trading sessions.
The four companies include Full Power (FPC), Chang Yih Tile Company (CYC), Binh Dinh Mineral Company (BNC) and Can Don Hydropower Company (SJD).
In the previous week, six listed companies were also requested to explain on why the share prices increased to the ceiling levels in five consecutive trading sessions.
The ceiling prices are the maximum price levels set for every share item. Under the current regulations, the ceiling price of a share item in a trading session at HSTC is 5% higher than the closing price of this share item in the previous session. Similarly, the price of a share item in a trading session at the Hanoi Securities Trading Centre must not be 10% higher than the price of the same share item in the previous trading session.
However, the listed companies just gave general explanations. They said that the high demand for shares and the information about bonus share issuance have pushed the prices up. Some of the companies even repeated the information that was released several months ago, which was completely not new to investors, considering the information the main reason for the price hike.
For example, SSC price hike was attributed to the release of the information about the issuance of bonus shares.
Only Khanh Hoa Power Joint Stock Company gave a detailed report about its production and business performance as requested by HSTC. The company’s share (KHP) hit the ceiling levels in five consecutive trading sessions. On March 6, KHP was traded at VND49,800/share, up by VND2,300/share, or 4.84% over the previous session. The company production and business performance was very good in the first two months of the year.
Source: VEN
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