“Real Estate Tycoon” Successfully Sells 100 Million Shares of Social Housing, Doubling Market Price

Công ty CP Tư vấn Thương mại Dịch vụ Địa ốc Hoàng Quân (Hoang Quan Real Estate – HQC stock code) has announced the successful issuance of 100 million private shares at a price of 10,000 Vietnamese dong per share, raising 1 trillion Vietnamese dong. With this, the company’s charter capital has increased from 4.766 trillion to 5.766 trillion dong.

The transferred private shares will be restricted from trading for one year, starting from March 4, 2024.

Out of the raised 1 trillion dong, Hoang Quan Real Estate will use 400 billion dong to purchase shares from existing shareholders of Thanh Pho Vang Investment Joint Stock Company. Additionally, 600 billion dong will be used to purchase privately issued shares of Thanh Pho Vang Investment Joint Stock Company. This company is the investor of the Golden City Social Housing Project, covering an area of 3.35 hectares with an investment capital of 1.7766 trillion dong in Tay Ninh province.

In 2023, Hoang Quan Real Estate recorded a revenue of just over 293 billion dong, an increase of over 6% compared to the previous year. However, its net profit after tax was only over 5 billion dong, a decrease of 73% compared to 2022.

At the end of the trading session on March 5, HQC saw a rise of 70 dong, reaching 4,280 dong per share. In the morning session of March 6, HQC continued to surge, hitting the trading limit at 4,570 dong per share, following the news of the successful issuance of 100 million shares at double the market price.

By 10:30 AM, more than 33 million HQC shares have been successfully transferred on the market, marking the highest volume in the past three months.

For more information, visit Business Today.