Hoang Quan Real Estate Consulting and Trading Joint Stock Company (Hoang Quan Real Estate – stock code HQC) announces the successful issuance of 100 million private shares at a price of VND 10,000 per share, raising VND 1,000 billion. As a result, the charter capital increases from VND 4,766 billion to VND 5,766 billion.
The privately issued shares are restricted from transfer within 1 year from March 4, 2024.
With the raised capital of VND 1,000 billion, Hoang Quan Real Estate will use VND 400 billion to acquire shares from existing shareholders of Golden City Investment Joint Stock Company; and use VND 600 billion to acquire privately issued shares of Golden City Investment Joint Stock Company. This is the company in charge of the Golden City social housing apartment project with a scale of 3.35 hectares and an investment capital of VND 1,776.6 billion in Tay Ninh province.
Hoang Quan Real Estate’s social housing project
In 2023, Hoang Quan Real Estate recorded revenue of only over VND 293 billion, an increase of more than 6% compared to the previous year; net profit after tax was only over VND 5 billion, a decrease of up to 73% compared to 2022.
At the end of the trading session on March 5, HQC increased by VND 70 to VND 4,280 per share. In this morning’s session (March 6), HQC continued to hit the ceiling price at VND 4,570 per share after receiving information that the company successfully issued 100 million shares at double the market price.
As of 10:30 AM, more than 33 million HQC shares have been successfully transferred on the exchange, the highest in the past 3 months.
