Vingroup’s subsidiary wants to invest in 4 projects in Hanoi with a total capital of more than 78,700 billion dong

Vietnam Exhibition and Convention Center Joint Stock Company (VEFAC) – a subsidiary of Vingroup ( HoSE: VIC ) holds shareholders’ opinion through the implementation of a series of projects with a total investment of 78,700 billion VND, capital Investor is 12,683 billion dong, the rest will be mobilized from outside from loans or other channels. The final registration date to close the list of shareholders is July 21.

According to the policy, the company will invest in a national exhibition center in Dong Anh district, Hanoi city. The total investment capital is more than 7,336 billion VND, in which the investor’s capital is equivalent to 15% (about 1,100 billion VND), the remaining 85% will be borrowed or mobilized through other channels. The project is expected to be started in the fourth quarter and completed in the third quarter of 2024 (or according to the progress approved by the competent State agency).

The Board of Directors also approved the investment of Dong Anh New Urban Area project (Dong Anh district, Hanoi city) with a total capital of about 34,879 billion VND, including 15% investor capital, about 5,232 billion VND and borrowed 85%. again. Project implementation progress from 2020 to 2025.

The fourth project is a complex of commercial and residential services at 148 Vo Giang, Ba Dinh district , Hanoi. Total investment capital is 17,440 billion dong with 3.4888 billion dong contributed by investors, the rest 80% will be mobilized from outside.

The last project is the investment policy of the urban functional area of ​​South Thang Long Avenue in Nam Tu Liem District, Hanoi City. Total investment capital is 19,090 billion VND, including 2,863 billion VND of investor’s capital and the remaining 85% mobilized from outside.

Vietnam Exhibition Fair Center Joint Stock Company operates mainly in the field of developing a number of real estate projects and organizing fairs and exhibitions. The company’s charter capital is 1,671 billion VND. As of June 30, Vingroup holds 83.3% of the charter capital while the Ministry of Culture, Sports and Tourism holds 10%.

As at 30/6, the company has 4,904 billion dong of one month term bank deposits, while at the beginning of the year it was only 11 billion dong. This amount is also equivalent to VND 4,900 billion that Vingroup has advanced for the company to increase capital according to the stock issuance plan.

At the 2020 Annual General Meeting of Shareholders, the plan to sell more than 1.1 billion shares to mobilize 11,000 billion VND to implement projects has also been approved by shareholders.

Source: Nguoidonghanh