TWD Investments forced to delist shares
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.