Business

Property developer’s bond issuance canceled following false information submission

The State Securities Commission (SSC) has decided to cancel nine separate bond issuances worth over 10 trillion VND (over 437 million USD) by subsidiaries of property developer Tan Hoang Minh Group because they submitted false information.
Property developer’s bond issuance canceled following false information submission ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – The State Securities Commission (SSC) has decided to cancelnine separate bond issuances worth over 10 trillion VND (over 437 million USD) bysubsidiaries of property developer Tan Hoang Minh Group because they submitted falseinformation.

According to the SSC, companies under the TanHoang Minh Group – Viet Star Real Estate Investment Co., Ltd, Winter Palace JSCand Soleil Hotel Service and Investment JSC - submitted false information and concealedinformation related to private bond issuance.

These companies conductednine private bond offerings during the period. All these companies areunlisted.

Thiscancellation is based on the provisions of the Securities Law 2019, and DecreeNo. 153/2020/ND-CP dated April 3, 2022.

Accordingly, bond registration and depositoryorganisations have to stop thetransfer of bonds ownership of the three companies in the bond offerings fromJuly 2021 to March 2022.

TheHanoi Stock Exchange (HNX) is responsible for publicising information about thecancellation.

The decisiontook effect on April 3./.
VNA
#State Securities Commission#Tan Hoang Minh Group#bond issuance#false information#private bond issuance#Vietnamplus#Vietnam news#Vietnam News Agency#cancellation
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