Shares of Halong Canned Food Joint Stock Company (CAN) plunged to the floor price of 27,900 VND per share at the start of the trading session on January 8, 2025, following information about 120 tons of sick pork being processed into canned meat. This drastic decline dropped the stock price to a three-year low. Authorities uncovered a network buying infected pork due to African swine fever, some of which had already been canned. Halong Canned Food, established in 1957, is known for generating hundreds of billions in annual revenue, yet reported declines in the first nine months of 2025. At an extraordinary general shareholders meeting, CAN approved a plan to issue 5 million shares to raise capital for a new factory. The company is also relocating its old factory due to zoning regulations and has leased new land for its production project amounting to around 166 billion VND.
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