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Wednesday, September 28, 2022

HTP plans to raise funds for real estate investment

The Saigon Times

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HCMC – Hoa Phat Textbook Printing JSC, which trades its HTP shares on the Hanoi Stock Exchange, is planning two share issues to raise funds for investment in two real estate companies this year.

The domestic firm will inject more capital into its subsidiary Hung Vuong Developer and contribute capital to Bach Phu Thinh Company to boost its stake to 99%.

HTP will issue over 91 million shares to its existing shareholders with the ratio of 1:1. Each share will be priced at VND10,000. The firm will also issue 30 million shares via private placement at VND10,100 per share.

Of the proceeds from the share issues, over VND721 billion will be poured into Hung Vuong Developer and VND495 billion into Bach Phu Thinh Company.

This year, HTP looks to book some VND100 billion in net revenue, a four-fold rise against 2021, the local media reported.

HTP closed the trading session today, June 17, down 2.56%.

On the Hochiminh Stock Exchange, the VN-Index slid 1.56%, or 19.33 points, from the session earlier, at 1,217.3, with 87 gainers and 391 losers. There were nearly 739 million shares worth VND17.3 trillion changing hands, up 31.4% in volume and 17.5% in value against the previous session.

In the VN30 basket, 22 stocks lost steam, with securities firm SSI and lender MBB reporting the sharpest decline.

The poor performance of many large-cap stocks dragged the HNX-Index of the northern bourse down 7.71 points, or 2.68%, from the day earlier, at 280.06 at the close.

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