AsemconnectVietnam - An Gia Real Estate Investment and Development JSC (code AGG - HOSE) approved the plan to merge and terminate the operations of Dong Nam Land Investment Company Limited.

An Gia approved the merger of Dong Nam Land Investment Company Limited into Loc Phat Management and Development Joint Stock Company.
Thus, after the merger, Dong Nam Land Investment Company Limited will cease to exist.
It is known that at December 31, 2024, An Gia is accounting for investment in Loc Phat Management and Development Joint Stock Company as an affiliated company, the unit is located at 60 Nguyen Dinh Chieu, Da Kao, District 1, Ho Chi Minh City.
As for Dong Nam Land Investment Company Limited, the unit was established on November 3, 2020, also located at 60 Nguyen Dinh Chieu, Da Kao, District 1, Ho Chi Minh City, the legal representative is Nguyen Van Giao and operates mainly in the field of real estate business, land use rights owned by owners, users or lessees.
In addition, regarding the capital mobilization plan, earlier, in early 2025, An Gia announced to stop implementing the plan to offer 40,632,020 shares to existing shareholders by exercising purchase rights, equivalent to the offering rate of 25% of the outstanding shares at the time of offering.
The reason given by the Company is to ensure the interests of shareholders because the market situation is not suitable for offering and ensuring the feasibility of the issuance.
In addition, based on the authorization of the General Meeting of Shareholders, the Board of Directors will consider and decide to implement the public offering of shares to existing shareholders at another time that is suitable for the interests of the Company, the interests of shareholders and in compliance with the provisions of the Law and the Board of Directors will report to the General Meeting of Shareholders at the nearest meeting.
It is known that in October 2024, An Gia conducted a written consultation with shareholders to approve the plan to offer shares to existing shareholders at a rate of 25%, equivalent to offering 40,632,020 shares at a price of VND 10,000/share, mobilizing VND406.3 billion.
Of which, the Company will use VND148 billion to pay off bank loans, disbursed in the first or second quarter of 2025; VND68 billion invested in capital contribution to the subsidiary AGI & HSR Consulting JSC, disbursed in the first or second quarter of 2025; and the remaining VND190.32 billion invested in capital contribution to the subsidiary Western City LLC, disbursed in the first or second quarter of 2025.
N.Nga
Source: VITIC/Tinnhanhchungkhoan