|
Đất Xanh Group (DXG) raises capital to over $341m
The raised capital has been strategically allocated to strengthen the company's financial foundation and support its expansive project pipeline slated for 2025.
The headquarters of Đất Xanh Group in Bình Thạnh District, HCM City. — Photo datxanh.vn
|
Đất Xanh Group, a prominent player in Việt Nam's real estate market, has successfully completed a significant capital-raising initiative, underscoring its robust market position and strategic foresight.
The company issued 150.1 million shares at a price of VNĐ12,000 per share (US$0.47), fully subscribed by over 20,000 investors, thereby raising VNĐ1.8 trillion ($70.6 million). This successful issuance elevates Đất Xanh Group's charter capital to over VNĐ8.72 trillion ($341.4 million).
The raised capital has been strategically allocated to strengthen the company's financial foundation and support its expansive project pipeline slated for 2025.
A substantial portion of the funds is earmarked for its subsidiary, Hà An Real Estate Investment and Trading JSC, which is responsible for flagship projects like the Gem Sky World in Đồng Nai Province.
Hà An contributed over 75 per cent of Đất Xanh's consolidated revenue in 2023, derived from land plots and apartments.
The capital will be used to address bond debts and loans, thereby reducing financial leverage.
The remaining funds are designated for settling due bond obligations and advancing the development of an Enterprise Resource Planning (ERP) platform, reflecting Đất Xanh Group's commitment to a comprehensive digital transformation.
The company reported a net revenue of over VNĐ4.7 trillion in 2024, up 27 per cent from the previous year. The consolidated profit after tax surged to over VNĐ454 billion, tripling the prior year's figure.
Bizhub
|
