HQC to issue 200b dong worth of convertible bonds

Hoang Quan Real Estate Service Trading and Consulting Joint Stock Co (coded HQC) on April 26 organised its annual general meeting (AGM) 2012 in HCM City to report its audited consolidated fiscal statement in 2011 with revenue of 222 billion dong and after tax profit at 16 billion dong.

In 2012, HQC targets to reach one trillion dong revenue and profit at 72 billion dong with 10 percent dividend.

The company’s director board said that in 2012 the company will continue to complete ongoing projects such as Hoang Quan ecological villas, Sovrano project, Cheery Apartment project, Da River-Binh Tan project and social house and resettlement projects in HCM City.

Truong Anh Tuan, HQC’s chair of director board, said that in 2012, the company will join mergers and acquisitions (M&A) activities. Tuan also added that in the near future, the company will prioritise its resources to develop popular property product line, rather than high-end product line and development of social housing projects and resettlement projects in HCM City.

The AGM also agreed to issue 200,000 convertible bonds in 2012 at the price of one million dong per bond, totalled at 200 billion dong to invest in urban zone and Mekong River Delta University. The bond issuance is scheduled in the third of fourth quarter of 2012.

The detailed issuance plan will be submitted for the shareholders’ approval at an extraordinary shareholders’ meeting in statement in Q3/2012.

 

Category: Stocks