HHV successfully issued 82.3 million additional shares, raising more than VND752 billion in funds

According to Dong Yi

Investing.com – Deo Ca Transport Infrastructure Investment Joint Stock Company (HM:) has just approved the results of its public share offering, with a success rate of 91.34%. According to the plan, HHV will issue an additional 82.3 million shares to existing shareholders with an issue price of VND10,000 per share and an execution ratio of 4:1 (shareholders with 4 shares can purchase an additional 1 new share to vote).

After the expiration of the registration period, the number of shares registered for subscription by existing shareholders exceeded 75.2 million shares, equivalent to 91.34% of the total number of shares registered for sale. So far, HHV has earned more than 752 billion VND. It is expected that HHV will use the proceeds to inject capital into investment project enterprises and supplement capital to serve company activities.

The remaining shares of existing shareholders that have not yet registered for payment have been approved by the board of directors through a preliminary plan to continue to search for and choose to reallocate to domestic and foreign entities/investors. Interested and eager to accompany the development of HHV and sufficient financial ability to invest in the shares for sale.

The reallocated entities/investors and the specific issuance price will be announced by the board of directors when the list is closed, but must ensure timeliness and comply with legal regulations.

In terms of construction activities, in 2023, against the background of the rising wave of public investment, the government focuses on the development of transportation infrastructure, and HHV is one of the businesses that will benefit greatly from continued winning bids for construction projects. Quang Ngai-Hui Nhon Expressway, Prenn Pass Upgrade and Expansion, Binh Dinh Coastal Highway Project, Coastal Highway Project Connecting Lien Chao Port (Da Nang)…

Regarding investment activities, between 2023 and 2025, HHV proposes to invest in nearly 400 kilometers of highways, including Dong Dang-Cha Linh, Huu Nguy-Chi Linh (Lang Son), Tan Phu-Bao Loc (Lam Dong), Ha Chi Minh City-Chon Thanh, Section 4 of the Ring Road passes through Binh Duong Province… with a total investment of approximately VND 100 trillion. In particular, the first phase of the Dong Dang-Cha Linh Expressway project, based on the PPP method, has a total investment of more than 14.3 trillion VND and has been ordered by the Prime Minister to start construction on January 1, 2024.

In terms of operations management activities, HHV is currently managing operations and regular maintenance to ensure safety and smooth traffic on more than 300 kilometers of highways and national highways, 25 kilometers of road tunnels, and is managing 15 BOT toll stations across the country.

The government’s goal is to build 5,000 kilometers of highways by 2030. At present, there are about 1,900 kilometers of expressways in operation across the country, and there is huge remaining space. HHV has the advantage to participate in the investment, construction and operation management of this project. highway network.

HHV leaders shared, “We have determined that it is difficult but must produce results. We must create profitable value and ensure investment efficiency to serve the interests of business activities, shareholders and employees.”

It is predicted that HHV’s operating performance in 2023 will be better than the previous year. Specifically, revenue is expected to reach VND2,560 billion in 2023, an increase of VND466 billion (a 22% increase) from 2022. Profit after tax is expected to reach approximately VND370 billion, an increase of 24% over the same period last year, exceeding the plan by approximately 9%.

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