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Real estate Landmark Holding shares dive on delisting decision

HÀ NỘI — Shares of Landmark Holding JSC tumbled for a second day after the firm was delisted by force from the Hồ Chí Minh Stock Exchange (HoSE).

The petrochemical and real estate trading firm’s shares (HoSE: LMH) plunged  六. 五 per cent to trade at VNĐ 一,000 apiece on Thursday. Shares dived  七.0 per cent on Wednesday.

On Tuesday, the southern bourse HoSE announced more than  二 五. 六 二 million shares of Landmark Holding will be delisted on June  一 九.

The decision was made after audit firm made a disclaimer of opinion on the company’s  二0 一 九 financial report.

The disclaimer of opinion is often the worst type of feedback an auditor may have on a firm’s financial report. It means the auditor is unable to form an opinion as there are insufficient proof in the financial statement.

On April  二 七, HoSE warned Landmark Holding shares could be delisted for the same reason.

The company debuted on HoSE on October  一 二,  二0 一 八 at VNĐ 一 一, 二00 (US$0. 四 八) per share. Shares reached the highest of VNĐ 一 六, 五 九0 apiece on July  二 五,  二0 一 九 before nosediving ever since.

Landmark Holding is known as the investor of several real estate projects in Hà Nội, including the Manhattan Tower in Thanh Xuân District. But the company quit the project in August  二0 一 九. — VNS