TWD Investments forced to delist shares

In Hungary

TWD Investments has been ordered to delist its shares from the Budapest Stock Exchange by the National Bank of Hungary (MNB), after the central bank and financial watchdog charged the company with failing to fulfill even the most basic criteria necessary for a presence on the bourse, according to reports.

The central bank suspended trading of shares in TWD Investments in October, after the company failed to publish an earnings report, according to the MNB. The suspension of trading will remain in place until March 1, when the shares are required to be delisted.

A target audit of the company - which describes itself as “the number one economic expert on Sierra Leone”- has by now revealed that the company failed to disclose relevant financial information to investors and that irregularities at the company are “very severe and widespread,” the central bank claimed, according to Hungarian news agency MTI.

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