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Shares of Hoa Binh Construction, HAGL Agrico to be delisted

By Anh Tu   August 12, 2024 | 04:00 pm PT
Shares of Hoa Binh Construction, HAGL Agrico to be delisted
A project under construction by Hoa Binh Construction. Photo courtesy of the company
Hoa Binh Construction (HBC) and agriculture producer HAGL Agrico (HNG) will be delisted from Vietnam’s biggest exchange on Sep. 6 due to substantial losses sustained over several years.

The Ho Chi Minh Stock Exchange (HoSE) has announced that 347 million HBC shares and 1.1 billion HNG shares will be removed from the exchange.

Hoa Binh Construction recorded 3.24 trillion in accumulated loss by the end of last year, exceeding its charter capital by 18%.

HAGL Agrico posted a total of VND5.79 trillion in loss between 2021 and 2023.

A public company delisted from HoSE will have to be listed on the Unlisted Public Company Market (UPCoM).

Hoa Binh Construction has assured its shareholders that it will continue to provide necessary information disclosures as its shares move to the new exchange.

HBC closed last week at VND4,970, 30% lower than July-end. HNG fell 12% to VND4,080 in the same period.

 
 
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