News about KOS

The VN-Index rose 7.56 points (0.45%) to 1,705 on October 16, ending a seven-session losing streak, helped by gains in banking and securities stocks. Liquidity on HoSE, however, fell to about VND 10,728 billion from VND 14,800 billion the previous session, and foreign investors remained net sellers of nearly VND 560 billion. In contrast, Kosy (KOS) hit the daily floor for the 20th consecutive session, with about 91 million shares in excess sell orders, roughly 42% of shares outstanding, and has lost about 80% in one month. Ms. Hoàng Thị Yến, younger sister-in-law of Chairman Nguyễn Việt Cường, registered to buy 8 million KOS shares from October 15 to November 13, but no purchases had been recorded; earlier, the Chairman and related entities had faced forced sales of KOS shares.

Kosy (KOS) shares have hit the floor price for 20 straight sessions, falling about 80% in a month, with floor sell orders reaching 91 million shares on October 16, or 42% of outstanding shares, while total matched volume that day was under 20 thousand shares. The company blamed weak market sentiment, shrinking liquidity and securities firms cutting margin lending and conducting forced sales, while saying its core real estate, renewable energy and project operations are running normally. Forced sales also hit chairman Nguyễn Việt Cường and related entities, leaving him with 33.17% of charter capital after 560.8 thousand shares were sold. Meanwhile, Ms. Hoàng Thị Yến, the chairman's sister-in-law, registered to buy 8 million shares, but trading data suggest she has not yet paid.