DIC Corp (DIG) has just achieved 2.1% of the yearly plan, increasing capital for Vi Thanh project.

(CLO) Construction Development Investment Corporation - DIC Corp (Code: DIG) has just announced a change in the purpose of using capital from the offering of 200 million shares, focusing on the Vi Thanh project while only completing 2.1% of the plan.

Construction Development Investment Corporation - DIC Corp (Code: DIG) has just approved a plan to adjust the public offering of 200 million shares to existing shareholders and the offering time from the second quarter of 2024 to the fourth quarter of 2024.

In addition, the expected amount of VND 3,000 billion will be used in a different way. Of which, VND 1,135 billion will be used to invest in the Cap Saint Jacques Complex (CSJ) project, phase 2 and 3; VND 1,426 billion will be used to invest in the Vi Thanh project; the remaining VND 439 billion will be used to pay for bonds with code DIGH2124003 (due on November 26, 2024).

DIC Corp (DIG) has only completed 2.1% of the yearly plan, and is expected to adjust capital increase for the Vi Thanh project (Photo TL)

Thus, compared to the original plan, the Vi Thanh Commercial Residential Area project has been invested an additional 461 billion VND from the mobilized capital of 3,000 billion VND.

Vi Thanh Commercial Residential Area Project is located in Ward 4, Vi Thanh City, Hau Giang Province with a scale of 83.46 hectares. The total investment capital is 5,649.27 billion VND and the site clearance has only been 75.68 hectares at the end of 2023.

Regarding business activities, in the first half of 2024, DIC Corp recorded revenue of VND 635.2 billion, an increase of 76.8% over the same period. Despite the high revenue increase, the company's profit after tax only reached VND 3.9 billion, a decrease of 95.5%.

The reason for the decline in profits came from a loss in financial revenue of up to 82.5% compared to the same period, down to only 34.9 billion VND. Meanwhile, business management costs increased by 55.9%, accounting for 99.1 billion VND.

Compared to the 2024 business target of VND 2,300 billion in revenue and VND 1,010 billion in pre-tax profit, DIC Corp has only completed 2.1% of the yearly plan.

Source: https://www.congluan.vn/tang-huy-dong-von-cho-du-an-vi-thanh-dic-corp-dig-moi-hoan-thanh-21-ke-hoach-nam-post317354.html