HQC to issue 50 million shares to swap debt at twice market price

HQC to issue 50 million shares to swap debt at twice market price

All newly issued shares will be subject to a one-year transfer restriction from the completion date.

A project by Hoàng Quân Consulting – Trading – Service Real Estate Corporation. — Photo mekongasean.vn

The board of directors of Hoàng Quân Consulting – Trading – Service Real Estate Corporation (HoSE: HQC) has approved a plan to privately issue 50 million shares to swap debt worth VNĐ500 billion (US$19 million), at VNĐ10,000 per share — more than double the current market price.

All newly issued shares will be subject to a one-year transfer restriction from the completion date.

One of the creditors participating in the swap is Hải Phát Investment JSC (HoSE: HPX). The company will convert receivables of VNĐ212 billion from Hoàng Quân into 21.2 million HQC shares.

The deal follows an agreement between the two parties to suspend a previously planned project in Lâm Đồng.

As of August 7, 2025, HQC shares closed at VNĐ3,950 each. Issuing at VNĐ10,000 per share means creditors are accepting a significant premium over the market price, reflecting expectations for the company’s recovery potential.

According to its consolidated financial report for the second quarter of 2025, Hoàng Quân posted negative net revenue of VNĐ10.83 billion. This was due to returned goods worth VNĐ32.85 billion exceeding sales and service revenue of VNĐ22.01 billion, after several customers failed to meet payment obligations, forcing the company to cancel contracts and reclaim products to resell to other buyers at better prices.

Thanks to nearly VNĐ38 billion in other income, the company still recorded a post-tax profit of VNĐ4.9 billion in the quarter, down 53.8 per cent year-on-year. In the first half of the year, net revenue reached VNĐ38.1 billion, up 4.6 per cent, while post-tax profit was VNĐ10.06 billion, down 34.9 per cent. Compared with its 2025 targets of VNĐ1 trillion in revenue and VNĐ70 billion in post-tax profit, the company has achieved only 14.4 per cent of its profit goal.

As part of its restructuring, the company has shut down five low-performing branches. On the stock market, chairman Trương Anh Tuấn completed the purchase of 25 million HQC shares in June 2025.

Bizhub