Thibidi has been approved to cancel its public company status from April 17, 2023.

On May 17, 2023, the State Securities Commission of Vietnam (SSC) announced the cancellation of Thibidi’s public company status (Ticker Symbol: THI) in a notice sent to the company.

Specifically, the SSC sent a letter to Thibidi regarding the revocation of the company’s public company status from April 17, 2023.

Thibidi’s new factory in Long Duc Industrial Park.

Earlier, at Thibidi’s 2023 annual general meeting held on April 17, shareholders passed a resolution to cancel the company’s registration as a public company, delist all shares on the Ho Chi Minh Stock Exchange (HOSE), and cancel the securities registration at Vietnam Securities Depository.

Regarding the reason for delisting, according to regulations, a public company is a joint stock company that falls into one of two categories: A company with a charter capital of VND 30 billion or more, or a company with a minimum of 10% of voting shares held by at least 100 investors who are not major shareholders.

In 2023, Thibidi targets net revenue of VND 1,201 billion, a decrease of 23% compared to the same period last year, and a profit before tax of VND 50 billion, an increase of 6% compared to the same period last year.

The company’s Board of Directors has also outlined solutions for 2023, focusing on production and business activities, stabilizing existing markets, and expanding export markets.

After completing the relocation of its factory to Long Duc Industrial Park, Thibidi now has modern infrastructure, large-scale workshops, and advanced machinery and equipment, which will contribute to the company’s plan to expand its brand promotion and consumption in the Northern market.

Communications Department, GELEX Group