DRH Holdings plans to issue over 60 million shares

Thursday, Mar 10, 2022 15:08

A construction site of DRH Holdings. — Photo cafef.vn

DRH Holdings JSC (DRH) just announced the final registration date to make a list of shareholders for issuing additional stocks to the market.

March 15 is the last registration date, said the company.

DRH Holdings will issue more than 60.3 million shares with a ratio of 1:1 to double its charter capital to over VND1.2 trillion (US$53.1 million).

The time to transfer the purchase right is from March 21 to April 12, and the time for registering to order and pay is from March 21 to April 14.

With an asking price of VND12,000 a share, DRH Holdings is expected to earn VND723.6 billion from the issuance.

The company will contribute VND500 billion to East Saigon Real Estate Development JSC while spending VND200 billion to increase its ownership rate at Binh Duong Minerals and Construction JSC(KSB) and the rest for supplementing working capital.

In the last quarter of 2021, DRH Holdings recorded net revenue of VND39 billion, up 53 per cent year-on-year. But its profit after tax fell 32 per cent to VND7.7 billion.

For the whole of 2021, the company’s net revenue reached VND48 billion, down 38 per cent compared to 2020.

However, its financial expenses increased 2.2 times compared to the previous year. As a result, DRH posted a drop of 66 per cent in profit before tax in 2021 to VND15.6 billion, while profit after tax was VND14 billion, down 72 per cent.

In 2021, DRH set a target of VND870 billion in revenue and VND90 billion profit before. DRH only fulfilled 5 per cent of its revenue target and 17 per cent of profit before the tax target. — VNS

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