HHV requests to clarify information on manipulating stock prices

October, 08/2022 - 08:05
Đèo Cả affirmed that it always complies with the law on securities. HHV stock recent transactions and movements follow the principle of supply and demand of the stock market.
Đèo Cả Tunnel, a project of Đèo Cả Traffic Infrastructure Investment. Photo hhv.com.vn

HÀ NỘI — Đèo Cả Traffic Infrastructure Investment JSC (HoSE: HHV) just sent a document to authorities requesting to strictly fine the disclosure and spread of incorrect information related to HHV shares being classified in a group that applied a pump-and-dump scheme, the company's leaders said on Thursday.

In the document, Đèo Cả affirmed that it always complies with the law on securities. HHV stock recent transactions and movements follow the principle of supply and demand of the stock market, and are under the supervision of the Hồ Chí Minh Stock Exchange (HoSE), the State Securities Commission of Vietnam (SSC) and competent state agencies.

The company requested the competent authorities to investigate, verify and clarify the motives of some units and individuals for posting and spreading false information about the fact that HHV shares are classified in a group that applied pump-and-dump scheme, and do not let this information continue to negatively affect the reputation of the business.

“The enterprise has confirmed that there is no interference from the business side. The positive signals of HHV in the stock market are thanked to HHV is being evaluated by investors as a potential stock, its positive business results in the third quarter of 2022 and upcoming development plans,” said Nguyễn Hữu Hùng, Vice Chairman of the Board of Directors of Đèo Cả Transport Infrastructure Investment.

The company, on August 22, announced its reviewed semi-annual financial statements, of which its consolidated revenue in the first half of 2022 increased 15 per cent on-year to VNĐ915 billion (US$38.3 million) and profit after tax advanced nearly 16 per cent to VNĐ159 billion. With the growth momentum, Đèo Cả estimated the company's revenue and profit in the first nine months of the year will rise by 15 per cent and 10 per cent, respectively. 

Since the beginning of 2022, Đèo Cả has won more than ten bidding packages with a total value of nearly VNĐ1.5 trillion, mainly from the construction project of the North - South expressway and the east of the Cam Lâm - Vinh Hao expressway section, and a number of coastal road projects in localities.

Đèo Cả also just announced to offer more than 267 million shares to public at a price of VNĐ10,000 per share. Registration date is from November 1 to November 25. VNS

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