The company announced that after a thorough review, it needs to adjust and update information in the issuance registration file, and will proceed with the issuance at an appropriate time.
Previously, in August, HQC approved a plan to privately issue 50 million shares to swap VND 500 billion in debt. With a swap ratio of VND 10,000 of debt for 1 new share, the charter capital will increase to approximately VND 6,266 billion. The issued shares will be restricted from transfer for a minimum of 1 year.
According to the previously announced list, there are 4 creditors eligible for the debt-to-equity swap, with Chairman Truong Anh Tuan and his spouse holding more than half.
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List of creditors eligible for debt-to-equity swap
Source: Author’s compilation
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As of September 30, 2025, HQC’s total assets reached nearly VND 9,872 billion, a slight decrease of 2% compared to the beginning of the year. Total liabilities were over VND 4,460 billion, down 5%, with financial debt at nearly VND 1.7 trillion, down 3% and accounting for 38% of total liabilities.
In terms of business results, net revenue for the first 9 months was VND 51 billion, up 13%, and after-tax profit was over VND 18 billion, down 32% year-on-year. Against a high target, HQC has only achieved 16% and 26% of its plan after 3 quarters, respectively.
HQC plans to issue 50 million shares to swap VND 500 billion in debt
New social housing project in Ca Mau
On November 14, HQC was approved by the Ca Mau Provincial People’s Committee as the investor for the social housing project in Khanh An commune.
The project covers an area of nearly 15.8 hectares, including 8.5 hectares of residential land, with 6.8 hectares for social housing apartments and 1.7 hectares for commercial housing.
The total investment is over VND 662 billion, with HQC’s contribution amounting to VND 133 billion. The project is scheduled for completion within 60 months. The investor is responsible for completing all land, construction, environmental procedures, and ensuring progress as committed.
Earlier, in late October, the Ca Mau Provincial People’s Committee approved the investment policy and designated HQC as the investor for the social housing project in An Xuyên ward, covering an area of nearly 2 hectares.
The project is expected to construct 6 blocks, each 12 stories high, providing nearly 1,000 apartments. The total investment is over VND 1,215 billion, with the investor’s contribution exceeding VND 273 billion. The project is to be completed within 36 months. Both projects have a 49-year operation period.
– 1:07 PM, November 26, 2025
