HCMC – Hoang Quan Consulting-Trading-Service Real Estate Corporation (HOSE: HQC) plans to issue 50 million shares at VND10,000 each to convert VND500 billion debt into equity.
The share price is 146.3% higher than HQC’s current market price. The shares will be subject to a one-year transfer restriction. HQC closed the trading session today, August 8, at VND4,060 per share, with a trading volume of over 21.1 million shares.
The debt swap includes a VND212-billion obligation to Hai Phat Investment JSC (HOSE: HPX), which will be converted into 21.2 million shares. After the issuance, Hai Phat will hold a 3.38% stake in HQC.
In the second quarter, HQC posted a net loss of VND10.83 billion, with revenue of VND22.01 billion and revenue deductions of VND32.85 billion. Net profit plunged 53.8% year-on-year to VND4.9 billion.
The company said several customers defaulted on payments, prompting HQC to cancel contracts and resell properties.
First-half revenue rose 4.6% to VND38.1 billion, while net profit dropped 34.9% to VND10.06 billion. HQC has met only 14.4% of its full-year net profit target of VND70 billion.
Vietnam’s benchmark VN-Index rose on Friday, supported by gains in mid- and small-cap stocks, while losses in blue chips capped the advance. The index edged up 3.14 points, or 0.2%, at 1,584.95 points, with 177 winners and 155 losers.
Trading volume rose 9.4% over the session earlier to 1.86 billion shares valued at VND49.1 trillion. Block deals accounted for 34.5 million shares worth VND941 billion.
The VN30-Index, which tracks the 30 largest-cap stocks, fell nearly 5.77 points to 1,729.08 points. Eighteen stocks declined and 11 advanced in the VN30 basket. Lender VIB led gainers, up 3.6%, followed by fuel retailer PLX, up 3%. VPB and VIC rose more than 2% and 1%, respectively. Budget airline VJC dropped 4.9%.
Mid- and small-cap stocks performed well. Several hit their daily trading limits, including HAG, PVD, and CII.
Developer PDR saw nearly 47 million shares traded, ranking among the market’s most actively traded stocks. Other real estate stocks such as DIG, DXG, and NVL rose between 1.9% and over 3%. KDH gained 6%.
Energy shares advanced. PVD closed at its ceiling price, PLX rose 3%, and GAS and BSR added 1.6% and 2.7%, respectively.
Chemicals and fertilizer stocks also gained. DPM closed at its ceiling price, while DCM and BFC rose 4% and 3.5%.
Banking, securities, and steel stocks were mixed. VIB rose 3.6%, OCB 3.2%, and VPB over 2%. Others declined slightly.
Steelmaker HPG lost 1.8%, with over 121 million shares traded, the highest on the market. NKG dropped 1.5% and HSG edged down 0.5%.
On the Hanoi Stock Exchange, the HNX-Index increased 1.6 points, or 0.59%, to 272.46 points, with 92 stocks rising and 78 others dipping. Trading volume jumped 66.3% to nearly 220 million shares, with value up 88.4% to VND5.1 trillion.
