To maintain investment and development activities, real estate businesses are having to apply many different ways to relieve pressure on capital flow.
Having just reduced its bond debt to zero VND, Phat Dat Real Estate Development Joint Stock Company (stock code: PDR) plans to offer a maximum of 134 million shares at an offering ratio of 1:5.5 - meaning that shareholders holding 5.5 shares can buy 1 new share. The offering price is 10,000 VND/share, significantly lower than the current market price of 31,450 VND/share.
The expected amount of VND 1,343 billion will be used to implement a series of projects such as Nhon Hoi Ecological Urban Area, Bac Ha Thanh Residential Area, Thuan An 1, 2 High-rise Complex Housing Area...
Similarly, Novaland Group (stock code: NVL) will privately offer up to 200 million shares at VND10,000/share to up to 5 professional securities investors. At the same time, Novaland will also issue up to 1.17 billion additional shares at a price not lower than VND10,000/share, with an issuance ratio of 60%.
With the ESOP issuance plan in 2022 and 2023, Novaland will issue up to 1.5% of outstanding shares.
 |
| Businesses are trying to manage capital flows to maintain investment and development activities. (In the photo is construction activities at Novaland's Novaworld Ho Tram project) |
With the proceeds, Novaland will contribute additional capital to its member companies to restructure debt and pay off due debts, while also prioritizing salary payments to employees. If successful, Novaland expects to earn about 500 million USD.
Dat Xanh Group Joint Stock Company (stock code: DXG) completed the offering of more than 101 million shares to existing shareholders at a price of VND12,000/share, equivalent to a total mobilized capital value of more than VND1,220 billion, thereby increasing its charter capital from more than VND6,207 billion to more than VND7,224 billion.
Of the mobilized amount, Dat Xanh used 210.5 billion VND to supplement capital for Hoi An Invest Joint Stock Company to pay off bond debt, 688 billion VND to supplement capital for Ha Thuan Hung Construction Trade Service Company Limited to pay off credit institution loans, and 220 billion VND to pay taxes and other payables to the State of Ha An Real Estate Company.
With the remaining nearly 102 billion VND, Dat Xanh will use it to pay taxes and other payables to the State as well as the group's operating expenses.
It is worth noting that Khai Hoan Land Group has just successfully issued a bond lot worth 250 billion VND with a fairly high interest rate. Specifically, the fixed interest rate is 12.5%/year for the first interest calculation period, the remaining interest calculation periods will be equal to the interest rate of savings deposits for individual customers with a term of 13 months, receiving interest at the end of the term of HDBank plus a margin of 4.5%/year.
Nam Long Group has also just announced a plan to issue 2 bonds with a total value of up to VND950 billion in the third quarter of 2024. Bond interest rates will be a combination of fixed and floating interest rates.
The first four interest periods have a fixed interest rate of 9.78%/year; the remaining periods have a floating interest rate equal to the sum of the margin of 4.73%/year and the reference interest rate of the relevant interest period. The proceeds from the bond issuance are expected to be used to pay off the entire maturity principal of the two bond lots issued in early September 2021.
According to the assessment of Dat Xanh Services Institute of Economics - Finance - Real Estate (DXS-FERI), the market in the second half of 2024 is expected to have many positive changes, such as investors' efforts to completely handle bad debts, increase equity to implement new projects and boost sales to both collect money and increase market share. Brokerage businesses are expanding their staff and diversifying their business activities.
At the same time, the Government continues to issue documents guiding the implementation of new laws, strengthen market supervision and control, and create a transparent and open investment environment. This promotes M&A activities, restructuring, and cooperation among real estate market participants.
Source: https://baodautu.vn/batdongsan/doanh-nghiep-bat-dong-san-no-luc-xoay-von-d223290.html
Comment (0)