Accordingly, more than 347 million HBC shares of Hoa Binh Construction Group will start trading on UPCoM from September 18 with a reference price on the first trading day of VND5,700/share. On the same day, more than 1.1 billion HNG shares of Hoang Anh Gia Lai International Agriculture will start trading on UPCoM with a reference price on the first day of VND4,600/share.
The two stocks, HBC and HNG, will list on UPCoM on September 18th.
Previously, both HBC and HNG shares received mandatory delisting orders from the Ho Chi Minh City Stock Exchange (HOSE) effective September 6th. HBC shares were delisted because Hoa Binh Construction Group's total accumulated losses exceeded its actual contributed charter capital, based on the audited financial statements for 2023. HNG shares were delisted due to audited losses for three consecutive years between 2021 and 2023.
In the last trading session on the HOSE on September 5, HBC shares closed at VND5,750. The company has just announced its audited consolidated financial report for the first half of 2024 with revenue reaching VND3,812 billion, up 11% over the same period last year and after-tax profit reaching nearly VND830 billion while in the same period recorded a loss of VND713 billion. Compared to the previous independent financial report, the above after-tax profit increased by about VND90 billion.
HNG shares closed the last session on HOSE on September 5 at VND4,680. Regarding the delisting of shares on HOSE, at the 2024 Annual General Meeting of Shareholders, HNG Chairman of the Board of Directors, Mr. Tran Ba Duong, affirmed that when the shares are transferred to UPCoM, the company will still disclose information transparently. Even if they are moved to UPCoM, if they operate well, the stock price can still go up. Up to now, the company has found a model, the next task is how to manage operations to make a profit. The company hopes to invest in construction this year, and by 2025 it will have stable revenue and hopefully start making a profit.
Source: https://thanhnien.vn/co-phieu-hoa-binh-va-nong-nghiep-quoc-te-hoang-anh-gia-lai-chot-ngay-len-upcom-185240911151431637.htm
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