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PXI: PXI faces delisting risk According to Dispatch No.95 dated January 19, 2022 by the Hochiminh Stock Exchange (HOSE) about Petroleum Industrial and Civil Construction Joint Stock Company (PXI) faces delisting risk for the following reasons:
Petroleum Industrial and Civil Construction Joint Stock Company continues to remain the supervision status according to the decision No.90/QD-SGDHCM dated March 31, 2017 by the Hochiminh Stock Exchange
On January 19, 2022, the Hochiminh Stock Exchange (HOSE) received the financial statements in Quarter 4/2021 of PXI. Accordingly, the profit aftre tax of 2021 was -30.315 billion dongs and the undistributed profit after tax at 12/31/2021 was -123.784 billion dongs. Besides, according to the audited financia statements in 2019, 2020, the profit after tax was -10,439 billion dongs and -50.005 billion dongs.
According to Point e, Provision 1, Article 120, Decree No.155/2020/ND-CP dated 12/31/2020, securities will be delisted if the listed firm has losses in three consecutive years or the total accumulated loss exceeds the paid-in charter capital in the last year prior to the time of review. Therefore, HOSE will implement procedure to delist the stock of PXI if PXI’s audited consolidated profit in 2021 is negative. HOSE
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