AsemconnectVietnam - Chuong Duong Joint Stock Company (CDC code - HOSE) plans to offer 21.99 million shares to existing shareholders, offering price of VND11,000/share.

Chuong Duong approved a plan to offer shares to existing shareholders at a ratio of 1:1, corresponding to offering an additional 21.99 million shares at a price of VND11,000/share, expected to be implemented in the third quarter of 2024 to fourth quarter 2024.
Of which, the total amount mobilized was VND241.88 billion, this amount was used by the Company to contribute capital to subsidiaries, buy back bonds before maturity and restructure short-term bank loans.
Chuong Duong added that priority will be given to disbursement of mobilized money in order. Of which, the first priority will be to use VND150 billion to contribute capital to Chuong Duong Homeland Joint Stock Company to implement "Social Housing Project at 1.4ha Land Area, Long Binh Tan Ward, City. Bien Hoa, Dong Nai province"; The second priority will be to use VND70 billion to buy back mature bonds/repurchase bonds before maturity; and the final priority will be to use VND21.88 billion to restructure short-term bank loans.
According to research, the Social Housing project at 1.4ha land, Long Binh Tan ward, Bien Hoa City, Dong Nai province has a total investment capital of VND1,348.56 billion. In particular, from the first quarter of 2024 to the first quarter of 2026, the investor plans to carry out legal procedures and construction; From the fourth quarter of 2024 to the first quarter of 2026, the investor plans to operate the project; and the first quarter of 2026 is expected to be handed over and put into use.
It is known that previously, on May 21, 2024, Chuong Duong Homeland Joint Stock Company held a launching ceremony for the Social Housing project at 1.4ha land, Long Binh Tan ward, City. Bien Hoa, Dong Nai province.
Thus, if the offering is successful, Chuong Duong's charter capital will increase from VND219.9 billion to VND439.77 billion.
In terms of business activities, in the first quarter of 2024, Chuong Duong recorded revenue of VND214.05 billion, down 16.6% over the same period, pre-tax profit reached VND1.53 billion, down 55.7% compared to implementation in 2023. Of which, gross profit margin decreased from 7.9% to 6.4%.
In 2024, Chuong Duong plans to increase revenue by 42%, to VND1,850 billion, and pre-tax profit to increase by 128%, to VND47.5 billion.
Thus, at the end of the first quarter of 2024 with a pre-tax profit of VND1.53 billion, Chuong Duong only completed 3.2% of the year's plan.
N.Nga
Source: VITIC/Tinnhanhchungkhoan