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VRC Real Estate and Investment Joint Stock Company sold 35.5 million shares

VRC Real Estate and Investment Joint Stock Company sold 35.5 million shares to 581 investors, increasing the company’s charter capital to VNĐ500 billion (US$22 million). These shares were offered at a 70 per cent discount, with the price at VNĐ11,000 per share, on September 12. The custody and listing of the recently-issued shares is scheduled to be implemented from October 2017. Recently, VRC approved a list of 19 strategic investors to issue 25.34 million shares for sale at a price of VNĐ11,000 per share. The only investor is currently VRC shareholder Nguyễn Phương Vi, who owns 602,810 shares of VRC, equivalent to 4.16 per cent stake. This year, VRC targets to achieve VNĐ394 billion in revenue and VNĐ120.5 billion in after-tax profit, a year-on-year increase of 526 per cent. The company expects to earn revenue of VNĐ430 billion and after-tax profit of VNĐ132 billion by 2018

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