Saigon Thuong Tin Real Estate Joint Stock Company (Sacomreal, now known as TTC Land, HoSE: SCR) has just announced the BoM resolution on the transfer of shares in Nguyen Kim Trading Joint Stock Company.
Accordingly, SCR will receive more than 5.7 million shares of Nguyen Kim Da Nang, equivalent to 90% of charter capital. This transaction value is VND297 billion.
Thus, if the transfer is completed, Nguyen Kim Da Nang will become a subsidiary of SCR.
Nguyen Kim Da Nang registered its operation in 2008, operating mainly in the field of real estate, by Mr. Bui Tien Thang is the legal representative.
Previously, SCR also received 100% charter capital of Hung Anh Nam Real Estate Investment Joint Stock Company. The total transfer value is over VND537 billion, equivalent to nearly 32.6 million shares.
In a recent development, SCR also approved the resolution of the Board of Directors to issue 300 billion dong of convertible bonds, not accompanied by warrants, with collateralized assets in 2019.
Specifically, SCR plans to issue up to 300 bonds with a par value of VND1 billion per bond, issued in the form of book entries. These bonds are issued in one installment, in 2018 for less than 100 investors.
Bonds have a term of 1 year, the purpose of issuance is to increase the size of the company’s operating capital.
At SCR’s annual shareholders’ meeting in 2018, SCR also presented a plan to raise chartered capital to raise capital for residential real estate and industrial zones.
In the first quarter of this year, SCR recorded net sales of VND 809 billion, up 190% yoy, mainly from Jamona City, Jamona Golden Silk projects (District 7). After-tax profit reached VND9.5 billion, up 50% y / y due to lower social housing margin than Jamona’s commercial housing projects.
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