Trading Restrictions Imposed Once More on VNG Shares

Trading in the shares of tech unicorn VNG Corporation has been restricted to Fridays for the second time this year. The Hanoi Stock Exchange, which oversees the Unlisted Public Company Market where VNG is listed, announced this penalty on Wednesday. The restriction comes as a consequence of VNG’s failure to submit its half-year financial results to the exchange within the specified timeframe, exceeding the 45-day deadline.

This is not the first time VNG has faced such consequences. In May, the company was subjected to a similar restriction for eight trading sessions due to its failure to submit the audited financial report for 2022.

VNG, known for its high valuation, with shares reaching over VND1.3 million ($52.90) at one point, is currently trading at around VND800,000. The company recently postponed its plans for an initial public offering and listing on the Nasdaq exchange in the United States, citing unfavorable market conditions.

Based in Ho Chi Minh City, VNG is a prominent online game producer and operator of the popular messaging app Zalo.