According to the announcement, more than 347.2 million HBC shares of Hoa Binh Construction Group will be compulsorily delisted from HOSE from September 6 and the last trading session will be on September 5.

The reason for delisting is because Hoa Binh Construction Group has accumulated losses exceeding the actual contributed charter capital based on the 2023 audited financial statements, which is a case of securities being compulsorily delisted according to the provisions of Point 3, Clause 1, Article 120 of Decree 155/2020 of the Government detailing a number of articles of the Securities Law. According to the 2023 financial statements, as of December 31, 2023, Hoa Binh has accumulated losses of VND 3,240 billion, exceeding the actual contributed charter capital of shareholders (charter capital at the end of 2023 is VND 2,741 billion).

Previously, on July 26, HOSE sent a notice to Hoa Binh Construction Group announcing the mandatory delisting. Immediately after this notice, HBC shares continued to fall as many investors sold. In particular, Hoa Binh's major shareholder, Hyundai Elevator Co., Ltd, sold 5 million HBC shares to reduce its ownership from 28.06 million shares (8.08% of charter capital) to 23.06 million shares (6.64% of charter capital), the transaction was conducted on July 31.

At the same time, HOSE also decided to delist more than 1.1 billion HNG shares of Hoang Anh Gia Lai Agricultural Joint Stock Company (HAGL Agrico) from September 6, the last trading day of HNG is September 5. The reason for delisting of HAGL Agrico is because this enterprise has had loss-making production and business results for 3 consecutive years, based on the audited financial statements of 2021, 2022 and 2023, which is also a case of mandatory delisting according to regulations. At the 2024 Annual General Meeting of Shareholders held in early May, Chairman of the Board of Directors of HAGL Agrico, Mr. Tran Ba ​​Duong affirmed that if the shares are delisted and transferred to trading on the UPCOM floor, the company will still disclose transparent information to shareholders as on HOSE and return to HOSE as soon as it meets the conditions...