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Friday, August 19, 2022

HQC to issue 100 million shares via private placement

The Saigon Times

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HCMC – Hoang Quan Consulting-Trading-Service Real Estate Corporation has announced to issue 100 million HQC shares via private placement in the third and fourth quarters of 2022 to mobilize VND1 trillion.

The proceeds from the share sale will be used for acquiring a stake in Golden City Investment JSC and to contribute capital to the Golden City apartment building project, the local media reported.

Golden City Investment Company is the investor of the Golden City project covering 3.4 hectares of land in Tay Ninh Province. The project will provide the market with 1,650 subsidized and commercial homes, and shophouses.

Real estate developer HQC looks to book VND1.08 trillion in revenue and VND206 billion in before-tax profit this year, up three times and 28 times, respectively, against last year.

On the Hochiminh Stock Exchange, HQC shot up to its daily upper limit at the close today, July 20, amidst the upbeat mood on the market.

Market breadth was positive as winners outnumbered losers by 374 to 87. The VN-Index jumped by 15.81 points, or 1.34%, from the session earlier, at 1,194.14, supported by strong gains of large-cap stocks.

Some 648 million shares worth VND14.2 trillion changed hands, up 22% in volume and 26% in value against the previous session.

The HNX-Index of the Hanoi Stock Exchange advanced 4.44 points, or 1.56%, against the session earlier, at 288.87, with 165 gainers and 48 decliners.

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