Hoa Binh Construction Group shares to appear on unlisted public companies market from Wed
More than 347 million Hoa Binh Construction Group (HBC) shares will be registered on the unlisted public companies market UPCoM Wednesday, after being delisted from the Ho Chi Minh Stock Exchange on September 6.

A property project with Hoa Binh Construction Group as main contractor. Photo courtesy of Thoi bao Tai chinh Vietnam (Vietnam Financial Times) newspaper.
Hoa Binh Construction, one of the leading construction contractors in Vietnam, says the company commits to maintaining its transparent reporting mechanism to ensure it could list again on the major bourse HoSE in the next two years.
According to a company release, more than 347 million HBC shares can be traded on the UPCoM, under the Hanoi Stock Exchange (HNX), starting from Wednesday, September 18 with a reference price of VND5,700 (23 U.S. cents) apiece.
The group listed its shares on the HoSE in 2006. In August, the major bourse decided to delist 347.2 million HBC shares from September 6.
The reason was the company’s accumulated loss exceeded its charter capital (actual capital contribution) per the audited consolidated financial statements for 2023.
In the first half of the year, Hoa Binh Construction recorded positive business results, with profit after tax reaching more than VND829.7 billion ($33.8 million), far exceeding the plan set for the whole 2024.
The figure also showed a significant improvement compared to a loss of VND713 billion ($28.6 million) in the same period last year.
The group successfully issued 73.08 million shares worth VND730.8 billion ($29.77 million) to swap debt for 99 suppliers and subcontractors.
As a result, its charter capital increased from VND2,741 billion to VND3,472 billion ($141.5 million), while its owner’s equity rose from VND93 billion at end-2023 to VND1,662 billion ($67.71 million).
Hoa Binh Construction said the outcomes were derived from its comprehensive restructuring strategy. The firm has "successfully consolidated its manpower, optimized management costs, and restructured assets through divestment of inefficient subsidiaries and affiliated companies".
It has also accelerated debt collection and restructuring of products and services, improving business efficiency.
With a strong recovery momentum in the first half of 2024, Hoa Binh Construction continues to focus on promoting construction activities as core business line, while expanding its market, especially international projects, it stressed.
Company leaders assessed that the 2024-2025 period is forecast to be the peak time of public investment disbursement. Therefore, it would participate in bidding for potential projects and increase the proportion of infrastructure revenue.
It would also strengthen the industrial construction and logistics segment to cash in on the wave of FDI shifts to Vietnam.
Regarding the civil construction segment, the real estate market has been frozen and is facing many difficulties, so Hoa Binh Construction advocates finding customers with reputation and good financial potential.
Finally, the group plans to expand its provision of construction services related to construction, construction materials and design to the world market, increasing values in its business chains.
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