Hoa Binh Construction to sell 5mln shares via private placement

Sanei Architecture Planning Co. Ltd. is a Japan-based company mainly engaged in the sale of detached houses and condominiums, and the real estate contract business that receives orders for contracts and custom-built houses.

In Vietnam, Sanei Architecture is currently a shareholder of a real estate company Danh Khoi Group, holding 4.91% of charter capital with 4.5 million shares.

With proceeds as expected of VND162.5 billion, HBC will use the payment for the procurement of building supplies used in construction projects (iron, steel, aluminum, cement, etc.) in October 2022.

Time of execution as expected issues in Q3 - Q4, 2022, after getting approval from the State Securities Commission.

With the exception of transferring between professional securities investors or made under legally effective court judgments or decisions, arbitration decisions, or inheritance according to the provisions of law, the transfer of shares in a private placement is limited to a minimum of 01 - year for professional securities investors from the date of completion.

Charter capital after its issuance will increase from VND2,456.5 billion ($105.1 million) to VND2,506.5 billion ($107.4 million).