Real Estate Consultancy and Service Trading Joint Stock Company Hoang Quan (Hoang Quan Real Estate – HQC stock code) has announced the successful issuance of 100 million private shares at a price of VND 10,000 per share, raising VND 1,000 billion. As a result, the charter capital increased from VND 4,766 billion to VND 5,766 billion.
The privately issued shares are restricted from transfer for 1 year from March 4, 2024.
With the raised capital of VND 1,000 billion, Hoang Quan Real Estate will use VND 400 billion to buy shares from existing shareholders of Golden City Joint Stock Company; and use VND 600 billion to buy privately issued shares of Golden City Joint Stock Company. This company is the investor of Golden City Affordable Housing Project with a scale of 3.35 hectares and a total investment of VND 1,776.6 billion in Tay Ninh province.
Hoang Quan Real Estate’s social housing project
In 2023, Hoang Quan Real Estate recorded revenue of only VND 293 billion, an increase of over 6% compared to the previous year; after-tax profit was only VND 5 billion, a decrease of 73% compared to 2022.
At the end of the trading session on March 5, HQC increased by VND 70 to VND 4,280 per share. In this morning session (March 6), HQC continued to hit the ceiling price at VND 4,570 per share, after receiving the information that the company successfully issued 100 million shares at double the market price.
As of 10:30 am, more than 33 million HQC shares have been successfully transferred on the market, the highest in the past 3 months.
