Danh Khôi Proposes to Cancel the Private Placement Share Issuance
The Joint Stock Group of Danh Khoi (stock code: NRC) recently published documents for the upcoming 2025 Annual General Meeting of Shareholders.
A notable item on the agenda is the proposal to cancel the private placement share issuance to increase charter capital for 2024.
“Due to ongoing economic fluctuations and unfavorable market conditions, the implementation of the issuance plan is not feasible. Therefore, the Board of Directors respectfully submits to the General Meeting of Shareholders for consideration and approval of the cancellation of the private placement share issuance to increase charter capital in 2024 in accordance with Resolution No. 01/2024/NQ-DHDC dated June 25, 2024.”
The Board of Directors will research, develop, and submit to the General Meeting of Shareholders for approval, a suitable capital mobilization plan to ensure resources for the implementation of the 2025 business plan,” stated Danh Khoi in the document.
Dai Nam Residential Area
Previously, the 2024 Annual General Meeting of Shareholders of Danh Khoi approved the plan to issue private placement shares to increase charter capital in 2024. The company planned to offer 100 million shares to investors at a price of VND 10,000 per share, aiming to raise VND 1,000 billion.
Out of the raised capital, VND 195 billion was intended to be used to partially acquire a project in the Dai Nam Residential Area (National Highway 13, Chon Thanh, Binh Phuoc) from tycoon Huynh Uy Dung (Dung “Lò Vôi”).
The Dai Nam Residential Area, developed by Tan Khai One-Member Limited Company, a member of Dai Nam Joint Stock Company owned by Mr. Huynh Uy Dung, spans an area of nearly 97 hectares. The project comprises 2,459 townhouses and villas, 4 kindergartens, and 1 high school, with an expected population of 12,000 people.
The transportation infrastructure is designed in a grid pattern, covering an area of over 323,249 square meters. Despite being launched at the end of 2018, upon inspection, almost the entire 97-hectare site remains vacant, with no residential construction.
Other Important Matters
In addition, to effectively implement the 2025 business plan in line with the multi-industry orientation and strengthen relationships with potential partners, the company has also added a series of new business lines.
Danh Khoi stated that adding business lines related to high-tech agriculture, pharmaceuticals, medical supplies, and healthcare is essential for the company.
Specifically, Danh Khoi added 11 business lines , including: Advertising, Trade Promotion Organization, Rice Wholesale, Wholesale of Agricultural and Forestry Raw Materials (excluding wood, bamboo, and rattan) and live animals, Food Wholesale, Scientific Research and Technological Development in the field Natural Sciences, Wholesale of a variety of goods, Beverage Wholesale, Other specialized wholesale, Scientific Research and Technological Development in the field of Agricultural Sciences, and Other unclassified healthcare activities.
A project implemented by Danh Khoi. Photo: Danh Khoi.
Notably, starting in 2025, the company will operate in multiple industries. Meanwhile, the “Danh Khoi” brand is associated with the company’s real estate business. Therefore, Danh Khoi intends to create a new brand that reflects its strategic vision, multi-industry orientation, and global aspirations.
As a result, Danh Khoi proposed changing its name to NRC Joint Stock Group. The new name “NRC” is chosen to inherit the existing NRC stock code while conveying the company’s three strategic pillars.
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