HCMC – The Hochiminh Stock Exchange (HOSE) has announced the mandatory delisting of HBC shares of Hoa Binh Construction Group and HNG shares of Hoang Anh Gia Lai Agricultural JSC due to their continuous poor business performance.
Hoa Binh Construction, led by BOD chairman Le Viet Hai, had incurred a cumulative loss of VND3,240 billion as of December 31, 2023, which exceeded the company’s charter capital of VND2,741 billion.
Hoang Anh Gia Lai Agricultural JSC, led by Tran Ba Duong, racked up losses for three straight years: VND1,119 billion in 2021, VND3,577 billion in 2022, and VND1,099 billion in 2023.
As per Decree No. 155/2020 of the Government, companies will have their shares delisted from the stock market if they make losses for three straight years, if their total losses are greater than their contributed charter capital, or if they report negative equity in their most recent audited financial statements.
Therefore, HBC shares of Hoa Binh Construction Group and HNG shares of Hoang Anh Gia Lai Agricultural JSC are subject to mandatory delisting from HOSE.
According to the regulations, if a company’s shares are delisted but the company still meets the criteria for being a public company, it must register for trading on the Unlisted Public Company Market (UPCoM).
The public company must complete the registration of its shares with the Vietnam Securities Depository and Clearing Corporation and register for trading on the UPCoM.
