BCG Land Joint Stock Company (BCR) received notice from the State Securities Commission on the issuance of shares to pay dividends according to Issuance Report No. 17/2024/CV-BCGL.
Specifically, on July 15, BCG Land Joint Stock Company (Company/UPCoM: BCR) received an official notice on the State Securities Commission's (SSC) website regarding the receipt of the full report on the issuance of shares to pay dividends issued No. 17/2024/CV-BCGL of the company with accompanying comments.
According to the announcement, BCG Land Joint Stock Company will be allowed to issue shares according to Resolution of the 2024 Annual General Meeting of Shareholders (AGM) No. 04/2024/NQ-DHĐCĐ-BCGL dated April 25, 2023, Resolution of the Board of Directors No. 15/2024/NQ-HĐQT-BCGL dated May 7, 2024 and other legal regulations.
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| BCG Land Joint Stock Company approved the report on issuing shares to pay dividends (Source: BCG Land) |
Goals and plans in 2024, BCG Land Joint Stock Company will focus on accelerating the construction progress and putting into operation projects including King Crown Infinity, Malibu Hoi An and Hoi An d'Or project. In addition, BCG Land also focuses on developing land funds in 3 segments: industrial real estate, high-end residential real estate and resort real estate. At the same time, it will pay dividends to shareholders and increase charter capital to 7,538 billion VND.
Previously, at the 2024 Annual General Meeting of Shareholders, BCG Land's General Meeting of Shareholders approved the Company's capital increase plan, including: BCG Land will pay stock dividends at a rate of 3% equivalent to the expected number of shares issued of 13.8 million shares. Next, the Company plans to privately offer 280 million shares at a price of VND 10,000/share (61% ratio).
With an average annual growth rate of 69%, BCG Land's revenue in the 2024 - 2028 period is estimated to increase from VND 2,190 billion to more than VND 17,546 billion; after-tax profit is expected to reach more than VND 3,3000 billion in 2028, corresponding to an average annual growth rate of 67%.
The majority of the revenue plan comes from the handover of the entire condotel and villa block of the Malibu Hoi An project - a project jointly operated by BCG Land and the Radisson Hotel Group according to international 5-star standards; the rest comes from the shophouse subdivision of the Hoi An d'Or project, which will be completed, handed over and recorded in revenue in 2024.
In addition, the King Crown Infinity project has also completed the basement cover and is constructing the main body, and will be officially introduced and open for sale the most beautiful basket of goods in the fourth quarter of 2024. With a unique international-class design, the King Crown Infinity luxury apartment project is a new symbol of quality of life in the center of Thu Duc City.
In addition, in addition to the projects Malibu Hoi An, King Crown Infinity, Hoi An d'Or, BCG Land will have additional large-scale urban and resort real estate projects such as Casa Marina Premium, Casa Marina Mui Ne, Helios Village,...
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| King Crown Infinity - One of the outstanding projects of BCG Land JSC (Source: BCG Land) |
Assessing that in 2024 the real estate market will have a positive recovery, BCG Land aims to achieve a sharp increase in net revenue to nearly VND 2,190 billion, and after-tax profit of more than VND 424 billion, respectively 2.3 times and 3.1 times higher than in 2023.
With this goal and growth momentum, the company sets a roadmap and target to increase its charter capital to about VND 16,000 billion by 2028 with total equity estimated at VND 26,000 billion and total assets of VND 57,000 billion. Thereby, BCG Land is in the Top 5 leading real estate development enterprises in Vietnam.
Source: https://baodautu.vn/bcg-land-thong-qua-bao-cao-phat-hanh-co-phieu-de-tra-co-tuc-d220185.html
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