HCMC – Hoang Huy Investment Financial Services JSC (HOSE: TCH) plans to issue more than 200 million shares to raise capital for two major property projects in the northern port city of Haiphong, reported the local media.
The firm will offer nearly 200.5 million shares at VND10,000 each, with existing shareholders entitled to buy three new shares for every 10 held. The record date for shareholder eligibility is August 21.
The new shares will be freely tradable, except for odd lots or unsubscribed shares sold to external investors, which will be subject to a one-year transfer restriction. Share purchase rights can only be transferred once. The offering is expected to go ahead this year, following approval from the State Securities Commission of Vietnam.
TCH expects to raise over VND2 trillion from the sale. Around VND1.2 trillion will be allocated to the Hoang Huy Green River project, while VND805 billion will go to the Hoang Huy Commerce – Tower H2 project.
The Hoang Huy Green River development, with a total investment of over VND4.05 trillion, spans 32.5 hectares and includes 780 terraced houses, 447 social housing units, and various urban amenities. Infrastructure has been largely completed, and phase one, with 282 units, has reached the third floor of construction. Revenue from this project is projected to begin in late 2025.
The Hoang Huy Commerce – Tower H2 project comprises a 36-story residential building covering nearly one hectare, with an investment of VND2.2 trillion. Construction has reached the first floor, and sales are expected to begin within one to two months. The project is scheduled for completion in about 20 months.
Closing the trading session today, August 11, TCH extended its winning streak to the fourth straight session with a 0.81% increase to VND25,000.
The benchmark VN-Index advanced 11.91 points, or 0.75%, to close at 1,596.86 points, with 228 winners and 97 losers on the Hochiminh Stock Exchange. Trading volume and value slid 12.4% and 7.8% over the previous session, respectively, with 1.63 billion shares worth nearly VND45.27 trillion changing hands. Block deals contributed 34.1 million shares valued at over VND781 billion.
The VN30-Index increased 12.82 points to 1,741.9 points, with 21 bluechips rising and nine others dipping. Vingroup stocks weighed on the index, as VRE dropped 2.2%, while VHM and VIC lost nearly 1.5%, taking away about three points from the main index.
In contrast, MSN hit its daily upper limit with 29.7 million shares traded. Other notable gainers included GVR (+6.5%), SSI (+5.6%), and MBB (+4.1%).
Brokerage stocks performed well, with SSI closing up 5.6% and ranking among the five most actively traded stocks with 59.3 million shares. VIX and VND rose around 3%, with liquidity between 40 million and 50 million shares.
Banking and steel stocks also saw modest gains. SHB rose 2.4% with 114 million shares traded, the highest on the exchange. HPG edged up 0.5% with 67.2 million shares, while TPB added 1% on 60.9 million shares.
In real estate and construction, several mid- and small-cap stocks posted sharp rises. PDR at one point hit the ceiling and closed up 6.6% with 37.3 million shares traded. NVL gained 1.3% on 34 million shares, while DIG rose 2.4% with 29.2 million shares changing hands.
The energy sector bucked the market’s uptrend, with BSR down 1.6%, PLX losing 0.7%, and PVD closing flat.
On the Hanoi Stock Exchange, the market gained momentum in the afternoon session. The HNX-Index added four points, or 1.47%, to a record high of 276.46 points, with 114 advancers and 63 decliners.
There were nearly 191 million shares worth VND1.6 trillion changing hands on the northern exchange.
