Property developer saves cash

Property developer Hoang Quan Corp (HQC) will divest from four of its affiliates to improve its current cash portfolio. If the divestment is successfully implemented, it is estimated that Hoang Quan Corp will earn at least VND67.6 billion. Meanwhile, the company reported it had less than VND6 billion worth of cash and cash equivalents by the end of the first quarter.

Accordingly, Hoang Quan Corp will sell a combined volume of 3.8 million shares in three companies in Binh Thuan, Can Tho and Vinh Long provinces at prices between VND10,000-30,500 and 8 per cent of Hoang Quan Appraisal Co's charter capital at the minimum price of VND440 million.

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