Khang Dien plans to issue 110 million private shares, raising 3,000 billion dong.

Khang Dien plans to offer an additional 110 million private shares to 20 professional investors, aiming to raise 3,000 billion VND, with the expected implementation in 2024.

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Real estate investment and business corporation Khang Dien (Stock code: KDH, HoSE) has just published a resolution and a shareholder consultation document on the private placement of shares to professional securities investors.

Accordingly, the shareholder representing 62.77% of the total voting shares agreed to the content requesting shareholder opinion on the private placement plan.

Specifically, KDH plans to sell an additional 110.09 million shares privately to 20 professional investors at a price of VND 27,250 per share, with the aim of raising VND 3,000 billion.

With the amount raised, Khang Dien is expected to use VND 300 billion to repay debts under credit contract No. 0116/2021/HDDT-OCB-DN, disbursed in 2024 and 2025; and invest an additional VND 2,700 billion in Khang Phuc Investment and Business Co., Ltd. to enable the company to pay off its bank debts.

Investors participating in the private placement of Khang Dien shares. Source: KDH

The 20 professional investors participating in this issuance round are: Rong Viet Securities JSC (VDS), Rong Viet Fund Management JSC, Norges Bank, Vietcap Securities JSC (VCI), Amersham Industries Limited, KB Vietnam Focus Balanced Fund…

Scheduled for implementation in 2024. If successful, the company’s charter capital is expected to increase from VND 7,993.1 billion to VND 9,094 billion.

After the end of the offering period, based on the actual results of the issuance, the Extraordinary General Meeting of Shareholders (EGM) authorized the Board of Directors to carry out procedures to increase charter capital, amend the company’s charter, etc.

Earlier, Khang Dien committed to guaranteeing full and timely repayment of the VND 4,270 billion loan of Khang Phuc Investment and Business Co., Ltd. at Vietinbank – Hanoi branch.

Khang Phuc Investment and Business Co., Ltd., previously known as Binh Chanh Investment and Construction Joint Stock Company, was later acquired by Khang Dien and changed its name to the current one.

Khang Phuc is the investor of Tan Tao, Phong Phu 2 urban areas, Solina residential area and Le Minh Xuan Expanded Industrial Park. Khang Phuc is also the investor of The Privia project, which was launched in November 2023, after all 1,043 apartments of the project meet the conditions for future sales. The project covers a total area of 1.8 hectares, located on An Duong Vuong Street, An Lac Ward, Binh Tan District, Ho Chi Minh City.

It is known that as of December 31, 2023, Khang Dien owns 100% of the capital of Khang Phuc Investment and Business Co., Ltd.

SOURCEcafef
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