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Enterprises promote capital mobilization plans
As the stock market booms, with indexes and stocks hitting record highs with record liquidity, listed companies are also looking to raise new capital.
Construction Development Investment Joint Stock Corporation (DIC Corp, code DIG), after many delays and cancellations of the offering plan, has returned to offering shares to existing shareholders at a ratio of 1,000:232, equivalent to offering 150 million shares to raise VND 1,800 billion, expected to be implemented from the third quarter of 2025 to the first quarter of 2026.
Notably, not long before the planned offering date, on April 22, 2025, DIG shares were only trading around VND 13,400/share, 11.7% higher than the offering price of VND 12,000/share. After a period of rapid growth, as of August 12, DIG shares were trading around VND 23,150/share, 92.9% higher than the offering price to existing shareholders.
At the price of VND 23,150/share, DIG shares are trading at a P/E of up to 139.37 times, higher than the industry average of 17.81 times; P/B valuation is 1.81 times, higher than the industry average of 1.44 times.
Similarly, the Hanoi South Housing and Urban Development Investment Corporation (code NHA) approved a plan to offer nearly 16.2 million shares to raise VND161.97 billion. The money raised will be used to pay expenses and/or repay bank loans to finance projects under investment.
Similar to DIG stock, NHA stock from April 9 to August 12 increased by 50%, from VND 17,500 to VND 25,100/share.
Regarding the financial situation, as of June 30, 2025, Nam Ha Noi Housing and Urban Development Investment Corporation only had VND 5.6 billion in cash, but its total debt was up to VND 142.6 billion, accounting for 25.2% of total equity. In which, most of the assets are mainly recording construction costs in progress at projects, so the capital demand is large.
Please propose to increase capital when the market is favorable.
Hoang Quan Real Estate Trading and Service Consulting Joint Stock Company (code HQC) is a special case, when the stock is only traded at 4,000 VND/share, 60% lower than the par value, but the Company still plans to issue 50 million shares privately to convert debt.
Nominally, Hoang Quan Real Estate plans to issue individual shares at a price much higher than the market price, but according to the creditor - Hai Phat Investment Joint Stock Company, the unit that will convert 212 billion VND of receivables into 21.2 million HQC shares - Hoang Quan Real Estate commits to be ready to supplement other assets such as HQC shares of a third party, cash and other real estate to ensure that, if Hai Phat Investment divests these swapped shares when eligible, then in any case, if there is a shortage, Hoang Quan Real Estate will supplement the difference to ensure that Hoang Quan Real Estate recovers the full debt from Hoang Quan Real Estate with the amount of 212 billion VND.
At Dat Xanh Group (DXG), this unit plans to issue 93.5 million shares privately at VND18,600/share, raising VND1,739.1 billion, expected to be implemented from the third quarter to the fourth quarter of 2025. Of which, the mobilized amount will be contributed to member units to implement the Green Vision high-rise apartment and commercial service project (DatXanh Homes Parkview) in Ho Chi Minh City (formerly Thuan An, Binh Duong ).
In fact, although the private issuance did not affect the market price, DXG shares also experienced a strong increase from April 9 to August 12, increasing by 105% to VND 21,550/share, equivalent to a P/E of 62.07 times, higher than the industry average of 17.81 times.
In addition, some enterprises are also applying for capital increase policies such as Vietnam Oil and Gas Power Corporation - JSC (PVPower, code POW) is also planning to submit an extraordinary shareholder meeting in September to approve the plan to offer/issue shares to increase charter capital; Taseco Real Estate Investment Joint Stock Company (Taseco Land, code TAL) plans to close the list of shareholders to get opinions on approving the plan to issue individual shares to increase capital...
Thus, when the stock market is favorable and stocks are rising rapidly, businesses have been promoting plans to issue shares, requesting approval to offer shares to raise capital at low prices on the stock exchange.
Source: https://baodautu.vn/doanh-nghiep-chay-dua-tang-von-d359434.html
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