Logistics firm delists shares

Logistics firm Vinafco (VFC) will voluntarily delist 34 million shares, worth VND340 billion (US$16.1 million), from the HCM City Stock Exchange on January 31.

The company said its revenue in the first nine months of last year dropped 44 per cent to just VND1.56 billion ($74,200) due to the country's economic difficulties. The closing price of its debut year, 2006, was VND30,000 ($1.4), while it closed yesterday's session at only VND7,200 (34.2 US cents).

Data showed that 22 businesses left the stock market last year, while 14 came close to delisting and one was dissolved.

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