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Chemical firm cancels listing

Aug 30th at 09:46
30-08-2018 09:46:59+07:00

Chemical firm cancels listing

Duc Giang-Lao Cai Chemicals JSC will cancel its listing on the Ha Noi Stock Exchange (HNX) on September 5, according to the northern market regulator.

 

The company will remove its nearly 100 million shares, listed as DGL on the HNX, after its last trading date on September 4.

The HNX said in its statement that the cancellation came after Duc Giang Chemical and Detergent Powder JSC (HNX: DGC) on August 8 announced it would issue nearly 58 million shares at a share swap ratio of 1:1 to convert DGL shares.

DGL shares will be converted into DGC shares. The list of beneficial shareholders was finalised on August 22.

The share swap deal was approved by the two firm’s shareholders and market regulators in mid 2017.

The post-merger company will also cancel its listing on HNX to move to the HCM Stock Exchange.

DGL shares rose 0.4 per cent to close Wednesday at VND40,000 (US$1.78) per share.

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