HHS completes first capital arrangement with GEM

Hoang Huy Investment Services SJC (HHS) successfully completed its first round of capital arrangement in accordance with the Private Placement Agreement after it signed with Global Emerging Markets (GEM) early this year.

HHS issued this announcement yesterday after HHS's Chairman Do Huu Ha successfully sold 184,160 shares to GEM, a transaction based on the Private Placement Agreement between HHS and GEM.

In February, 2014, HHS and the European-based Global Emerging Markets Ltd (GEM) entered into a Private Placement plus Warrant Agreement valued at VND324 billion or $16 million. The transaction was arranged and advised by Olympic Capital Group, Inc and Asia Global Capital Group.

GEM is an alternative investment group that handles a diverse set of investment vehicles around the world. HHS is scheduled to hold a shareholder meeting on May 24. The company projects 20 per cent growth in revenue and net profit for 2014 and a distribution of at least a 20 per cent dividend to shareholders.

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