Hung Thinh Incons (HTN) approves the plan of issuing more than 16 million shares to offer to existing shareholders in order to increase capital for meeting business growth demand.

Posted: 24-10-2020

On October 22, 2020, Hung Thinh Incons announced the Resolution of the Board of Directors on approving the plan of issuing shares to existing shareholders at ratio of 2: 1. Implementation time is in 2020 and quarter 1/2021, after being licensed for sale offer by the State Securities Commission

The company plans to issue more than 16.53 million shares to existing shareholders. Issuance rate is 50%, meaning a shareholder who holds 1 share receive 1 buying right, every 2 buying rights can buy 1 new share at the expected price of VND 17,000/ share.

For the past month, the average price of HTN shares have fluctuated between VND 25,000 and VND 27,900/ share, the average trading volume was 170,000 units, the average trading value was VND 4.4 billion/ session.

With the amount of more than VND 281 billion collected from the issuance, the Company will use to supplement financial resource to serve for construction activities at the projects of which Hung Thinh Incons is a general contractor such as: New Galaxy (6 apartment blocks with 19 floors in Di An, Binh Duong), Ho Tram Complex (7 apartment blocks with 21 floors in Ba Ria - Vung Tau), Vung Tau Pearl (4 blocks with 33 floors and 1,789 apartments in Vung Tau city), Grand Center Quy Nhon (42 floors with 824 apartments and 18 shop-houses), Quy Nhon Melody (2 blocks with 35 floors in Quy Nhon City, Binh Dinh), Q7 Saigon Riverside Complex (5 blocks with 34 floors and 3,580 apartments in District 7, Ho Chi Minh City) ... Besides 17 projects under construction and expected to be deployed in 2020, Hung Thinh Incons is currently in the finalizing stage of the negotiation process to act as general contractor for many large-scale projects in the coming time.

Overcoming the difficulties caused by Covid-19, for the first 6 months of 2020, Hung Thinh Incons recorded VND 116.38 billion in profit after tax, up 58.07% over the same period. EPS reached VND 3,465/ share.


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