Hoang Quan signed MOU to cooperate in project investment with US fund, worth 200 million USD

Hoang Quan Real Estate Company ( HoSE: HQC ) announced that it has signed a memorandum of understanding (MOU) with Philux Capital, an investment fund that was established in 2004 . The minutes stated that Philux Capital will provide a maximum of USD 200 million (equivalent to VND 4,600 billion) to jointly develop social housing projects, industrial parks, ports, and tourist resorts. In addition, this fund will also advise and support Hoang Quan in a comprehensive restructuring to access international capital markets, to list foreign securities, for example the United States.

Hoang Quan said that Philux Capital was involved in mergers and acquisitions, management consulting, corporate finance, corporate restructuring and consulting services. This fund is the focal point in bringing the first companies based in Vietnam into the Nasdaq stock exchange and the Frankfurt Stock Exchange. Currently, Philux Capital is an investment advisor to Philux Global Funds, a Luxembourg-based banking fund with multiple sub-funds for real estate investments, agriculture, renewable energy, healthcare and specialty hubs. Chu Lai (CMCC) and Asian Diamond Exchange (ADE) in Chu Lai Open Economic Zone, Quang Nam.

Hoang Quan has 20 years of operation, is the pioneer brand in the development of social housing, housing for recognition with 22 social housing projects in the South. The company has also developed industrial park projects, with two existing industrial zones: Binh Minh (Vinh Long) and Ham Kiem (Binh Thuan). This year, the company sets a target of 1,219 billion dong in revenue and 63 billion dong in profit after tax, up 53 percent and 52 percent respectively over the previous year.

Since the 2020 Annual General Meeting of Shareholders on May 30, HQC’s shares have had big fluctuations. Market price continuously increased to the ceiling price and set the peak for 2 years, at 2,380 VND / share. After that, the stock was adjusted to 1,700 VND / share and then increased to the ceiling again to 1,810 VND / share on July 14.

Chairman Truong Anh Tuan at the meeting emphasized the goal in the next 5 years, HQC shares on par value and annual cash dividend. The head of the company confirmed that he never shook hands with any team to make a stock price, although he received many offers.

Source: Nguoidonghanh