HOSE Mandates Delisting of VNE Shares on June 29, 2026 After Three Years of Qualified Audit Opinions
This Aveluro analysis covers VNE (Cổ phần Xây dựng điện Việt Nam) in the Construction & Materials sector. The classified event type is regulation change, with negative sentiment and a deterministic market-impact score of 4.9/10. Aveluro classifies this story as a negative catalyst and risk signal for the affected stock. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
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Overview
HOSE has set June 29, 2026 as the mandatory delisting date for over 90 million shares of VNE (Vietnam Electric Construction JSC) due to three consecutive years of qualified audit opinions. The stock will transfer to UPCoM, and the company plans to issue 30 million private shares. Despite the delisting, VNE shares surged for three consecutive sessions, though down over 40% year-to-date.
Key Facts
- HOSE will delist over 90.4 million VNE shares effective June 29, 2026.
- The last trading day on HOSE is June 26, 2026.
- Delisting is mandatory under Decree 155/2020/ND-CP due to qualified audit opinions for fiscal years 2023, 2024, and 2025.
- VNE shares rose for three consecutive sessions, reaching VND 3,110 per share on May 28, 2026.
- Year-to-date, VNE shares have lost over 40% of their value.
- The company plans to issue 30 million private shares, subject to renegotiation with investors.
- VNE states it remains a public company and shares will automatically transfer to UPCoM.
What Happened
HOSE issued a decision to mandatorily delist VNE shares due to three consecutive years of qualified audit opinions. The delisting is effective June 29, 2026, with the last trading day on HOSE on June 26, 2026. The company explained that the delisting is a technical procedure and that VNE still meets public company requirements, so shares will automatically transfer to UPCoM.
Despite the delisting, VNE shares surged for three consecutive sessions, with trading volume reaching millions of shares. The company attributed the positive price action to its explanation that shareholder rights and liquidity will be maintained on UPCoM. VNE also stated it has stopped losses and is working to resolve the audit issues.
Market Context
VNE shares closed at VND 2,910 on May 27, 2026, up 6.99% with volume of 3,026,500 shares. The stock has been volatile, gaining sharply in recent sessions but still down over 40% year-to-date. The delisting news has not deterred speculative buying, likely due to expectations of a turnaround and the planned private placement. VNE is listed on HOSE and will move to UPCoM, which typically has lower liquidity and valuation multiples.
Strategic Significance
The mandatory delisting reflects persistent audit quality issues at VNE, which may signal deeper operational or financial problems. However, the company’s plan to issue 30 million private shares suggests it is seeking fresh capital to address these issues. The transfer to UPCoM may reduce liquidity and institutional interest, but the company’s ability to clean up its audit opinions and execute the private placement will be critical for long-term recovery.
What to Watch
- Completion of the transfer to UPCoM and initial trading performance.
- Progress on resolving qualified audit opinions, including any special audit results.
- Renegotiation and execution of the 30 million private share issuance.
- Q2 2026 earnings release to confirm the company’s turnaround narrative.
- Any regulatory updates or shareholder actions regarding the delisting.