HCMC – Hoang Quan Consulting-Trading-Service Real Estate Corporation, which trades its HQC shares on the Hochiminh Stock Exchange (HOSE), has received approval to list an additional 100 million shares.
The extra shares will raise the number of total outstanding HQC shares to 576.6 million, valued at VND5,766 billion at face value. The change will take effect tomorrow, March 21.
The 100 million shares are part of a private offering and will be subject to a one-year transfer restriction starting March 4 this year.
HQC can mobilize VND1 trillion from this offering. Of this amount, VND400 billion will be used to acquire shares from existing shareholders of Golden City Investment JSC (TPV). The remaining VND600 billion will be allocated for acquisition of shares from TPV’s private placement.
TPV is the investor behind the Golden City project, which covers 3.35 hectares and has an investment cost of around VND1.8 trillion.
Regarding its financial performance, HQC reported nearly VND293 billion in net revenue in 2023, up by 6% year-on-year. However, its profit dropped by 73% to just over VND5 billion compared to a year ago. HQC achieved only 17% of its revenue target and 4% of its after-tax profit goal in 2023.
In the first quarter of 2024, HQC aims to settle its outstanding tax debt, totaling VND133.6 billion.
So far, VND84 billion has been paid, leaving an outstanding amount of over VND48 billion. The company also plans to actively participate in tenders and start work on new social housing projects to revitalize its business operations and deliver returns to shareholders.
Closing the trading session today, March 20, HQC stayed at its reference price of VND4,550 per share, with a matching volume of 8.9 million shares.
With 339 winners and 139 losers, the VN-Index of the HOSE jumped by 17.62 points, or 1.42%, to 1,260.08 points.
Trading volume remained flat in today’s session, but trading value edged up by 6% against yesterday, with a strong flow of capital into blue-chips. Around 915.6 million shares valued at nearly VND23 trillion changed hands, including 56.8 million shares worth VND1.8 trillion traded in block deals.
Bank stocks led the charge in today’s market rally. With the exception of EIB, which closed slightly down, other bank stocks made significant gains.
VIB, in particular, stole the limelight by hitting the daily trading limit of VND23,600 per share. Trade was active with 27.15 million units changing hands. This surge in VIB’s stock price translated to record-breaking liquidity, setting a new benchmark since its listing.
Many other lenders, such as LPB, TCB, MBB and MSB, saw increases of 3.14% to 4.96%. MBB emerged as the most actively traded stock on the market, with a matching volume of 39.3 million shares.
The securities sector also performed well, with all stocks registering gains of at least 1%. VCI surged the highest among them with a 4.93% rise to VND53,200
On the Hanoi stock market, the HNX-Index inched up by 1.86 points, or 0.79%, at 238.03 points with 108 advancers and 69 decliners. There were more than 77.6 million shares worth nearly VND1.6 trillion transacted on the Hanoi exchange.
