Tan Hoang Minh group does not report on bond issuances

Committee leader Stock The State (SSC) said, through reviewing the records at the State Securities Commission, 3 companies of Tan Hoang Minh group are not public companies. This group of companies does not report to the SSC on issuances, and only registers information through the corporate bond portal of the Hanoi Stock Exchange (HNX).

In the case at Tan Hoang Minh, related to the decision to cancel 9 separate bond issuances, with a value of more than 10,000 billion VND, the leader of the State Securities Commission said, he will review the consulting activities of the offering documents. issuer, the audit report of the Securities Company involve.

In case violations are detected, functional units of the Ministry of Finance will strictly handle them according to their competence and provisions of law.

Issuing enterprises (public and non-public companies), intermediaries (organizations advising on offering documents, organizations registering and depositing bonds, issuing agents…) Violations in the private placement of bonds will be strictly handled in accordance with the Decrees on sanctioning of administrative violations in the field of securities and securities market.

Regarding the violations of the Tan Hoang Minh group of companies, the State Securities Commission said that with the act of disclosing false and untrue information or concealing the truth in private bond offering activities, organizations and individuals commit violations. They may also be prosecuted for criminal liability if they cause damage to investors from 1 billion VND or more, or gain illegal profits from 500 million VND or more.

According to current legal regulations, privately issued corporate bonds can only be issued and traded among professional securities investors. However, through research, there are still many cases where investors buy bonds according to movements and potential risks.

Previously, three member companies of Tan Hoang Minh Group, including Investment Co., Ltd Real estate Viet Star, Winter Palace Joint Stock Company and Soleil Hotel Services and Investment Joint Stock Company have conducted 9 separate bond offerings to raise capital with a total value of VND 10,030 billion since July. 2021 to March 2022.

According to the decision of the State Securities Commission, member companies of Tan Hoang Minh Group have disclosed false information and concealed information when issuing private bonds.

Investors who bought bonds in 9 separate bond offerings from July 2021 to March 2022 of the above companies should contact these companies to receive a refund of the bond purchase.