Quoc Cuong Gia Lai Joint Stock Company (QCGL) has announced its Shareholders’ Resolution through a written consensus, achieving a 61.742% approval rate.
Key focuses include restructuring the investment portfolio and seeking partners for real estate projects.
Implementation is set for 2025, with transfer values committed to not fall below the initial investment cost. An independent valuation firm will be hired to determine the exact transfer price. The transferee will be selected based on strategic fit and financial capability.
Phuoc Kien Project by Quoc Cuong Gia Lai
This partnership will open doors for investors to co-develop real estate products and projects owned by the company. The goal is to leverage partners’ financial strength to accelerate project timelines. The Board of Directors has authorized CEO Nguyen Quoc Cuong to handle related procedures for this financial plan.
With a charter capital of VND 2,751 billion, the company has 4,544 voting shareholders. 32 votes were received (61.743% of total voting rights), with 30 valid approvals (representing 169,869,653 shares).
These strategic moves aim to optimize cash flow and unlock resources for key projects amidst a challenging real estate market.
On December 17th, QCGL’s stock (QCG) hit another floor price at VND 16,300 per share, following news of former Chairwoman Nguyen Thi Nhu Loan’s legal troubles related to the 39 Ben Van Don project (former District 4).
Bui Thanh Nhon’s family continues debt swap for Novaland.
Nova Real Estate Group (Novaland) has detailed its private placement plan to swap debts with related parties. Approximately 163.6 million shares will be issued at VND 15,747 per share, eliminating over VND 2,577 billion in debt.
Major creditors NovaGroup and Diamond Properties will receive 156.5 million and 7.1 million shares respectively, both linked to Chairman Bui Thanh Nhon’s family. New shares will be locked for one year, with implementation expected from Q4/2025 to Q1/2026.
Novaland’s stock closed slightly lower at VND 13,200 on December 17th.
Novaland Plans to Issue Nearly 164 Million Shares for Debt Swap with Companies Owned by Mr. Bui Thanh Nhon and His Wife
Novaland is set to issue approximately 164 million shares to settle debts owed to two major shareholders, Mr. Bùi Thành Nhơn and his wife, Mrs. Cao Thị Ngọc Sương.
Novaland Seeks $430 Million Green Loan for Sustainable Development Over 5 Years
Novaland is set to present a convertible bond issuance plan to its shareholders, targeting a total value of VND 10,000 billion. The proposed bonds will have a minimum tenure of one year and a maximum tenure of five years, offering investors the option to convert their debt holdings into equity during the specified period.
Critical Decision for Quoc Cuong Gia Lai
Shareholders have approved Quoc Cuong Gia Lai JSC’s plan to divest its stakes in subsidiaries and affiliates within the year. Additionally, they have authorized QCG to collaborate with external investors on real estate projects and products currently held by the company.
Major Deal Involving Novaland and Vinamilk
Both NovaGroup and Diamond Properties are linked to Mr. Bui Thanh Nhon, Chairman of Novaland’s Board of Directors, who will receive nearly 164 million additional NVL shares. F&N Dairy Investments Pte. Ltd. will invest approximately VND 6.011 trillion to increase its stake in Vinamilk to 24.99% of the charter capital.
QCG Stock Surges as Investors Rush to Buy Back Shares
After two consecutive sessions of hitting the floor and a lack of buyers, QCG shares of Quoc Cuong Gia Lai Corporation unexpectedly saw a surge in investor demand on December 18th. At several points during the session, there were millions of buy orders at the ceiling price.
