Halting the Debt Swap Deal Between Two Real Estate Giants

Last week, the VN-Index surged by 36.06 points to reach 1,690.99. The average trading volume on the HoSE platform hit 746 million shares per session, with an average transaction value of 22,882 billion VND. Conversely, the HNX-Index dropped by 3.22 points, closing at 259.91.

On the HoSE platform, foreign investors net-purchased 13.74 million units but recorded a net-selling value of 583 billion VND. On the HNX platform, foreign investors net-sold 1.46 million units, amounting to over 29 billion VND.

For the Upcom market, foreign investors continued their net-selling streak for five consecutive sessions, offloading 1.37 million units with a net-selling value exceeding 139 billion VND. Overall, during the trading week from November 24 to 28, foreign investors net-purchased 10.9 million units but still recorded a net-selling value of over 751 billion VND.

Reason for Temporary Suspension of Debt Swap

Hoang Quan Real Estate Consulting Trading Service Joint Stock Company (stock code: HQC) has approved the temporary suspension of the private placement of shares for debt swap purposes. The suspension is due to the need for additional information and adjustments to the issuance registration file, as identified during a review. The company will update the necessary details and proceed with the issuance at an appropriate time.

Previously, Hoang Quan Real Estate approved a plan to issue private shares for debt swap, totaling 50 million shares at 10,000 VND per share, equivalent to 500 billion VND in debt conversion.

At this year’s annual general meeting, Hoang Quan Real Estate approved a private share issuance plan for debt swap, valued at 500 billion VND, equivalent to 50 million shares. Of this, a 212 billion VND debt owed to Hai Phat Investment Joint Stock Company (stock code: HPX) will be converted into 21.2 million shares, representing 3.38% of HQC’s charter capital.

In July, Hai Phat Investment also approved the conversion of its receivable debt from HQC into shares. Accordingly, HPX will convert 212 billion VND of debt into 21.2 million HQC shares, with the decision on the execution timing delegated to the Chairman of Hai Phat Investment’s Board of Directors.

Previously, HPX collaborated with Hoang Quan on the 198-hectare Ham Tien project (former Binh Thuan province) with a total investment of 9,831 billion VND, scheduled for completion between 2018 and 2024, with revenue recognition starting in 2020 at 1,800 billion VND.

However, Mr. Truong Anh Tuan, Chairman of HQC’s Board of Directors, recently announced that both Hoang Quan and Hai Phat have agreed to temporarily suspend this project.

On December 18, Bibica Corporation (stock code: BBC) will finalize the shareholder list for the 2025 extraordinary general meeting, scheduled for January 8. The meeting’s agenda has not yet been disclosed by Bibica.

Ahead of the upcoming extraordinary general meeting, Bibica has experienced significant shareholder structure changes. Indonesia’s consumer goods conglomerate Sari Murni Abadi (SMA) has acquired Bibica to accelerate its international expansion strategy.

Vietbank


Elects New Leadership

Vietnam Thuong Tin Commercial Joint Stock Bank (Vietbank – stock code: VBB) has notified shareholders about the nomination and candidacy process, scheduled for December 5. Shareholders can exercise their rights from December 8 to 26.

Specifically, Vietbank’s Board of Directors has issued a resolution regarding the implementation of shareholder rights for nominating and electing candidates for the Board of Directors and Supervisory Board for the 2026 – 2030 term. The final registration date for exercising these rights is November 27.

The Board of Directors for the 2026 – 2030 term must consist of a minimum of 5 and a maximum of 11 members. The bank plans to propose a 7-member board to the general meeting, including at least two independent members. For the Supervisory Board, the Board of Directors intends to propose a 5-member board for the 2026 – 2030 term.

Mr. Bui Van Su, Chief Accountant of DIC Corporation (stock code: DIG), has registered to sell 43,257 DIG shares to reduce his ownership to 0% of the charter capital. The transaction is expected to take place from December 3 to 31 to address personal financial needs.

Mr. Le Hai Doan, a member of Vinasun’s Board of Directors (stock code: VNS), has registered to purchase an additional 5,494,700 VNS shares, increasing his ownership to 13.6% of the charter capital. The transaction is scheduled from December 1 to 30. If successful, Mr. Doan and related parties will own nearly 25% of Vinasun’s charter capital.