The Bà Rịa – Vũng Tàu House Development Corporation (Hodeco, stock code: HDC) has announced that it has transferred all its shares in the Ocean Vũng Tàu Entertainment Investment Construction Company. Accordingly, Hodeco transferred more than 24.1 million shares (37.37%) to the Tân Cương Consulting, Investment and Trade Joint Stock Company. Furthermore, HDC’s Board of Directors approved the transfer contract of nearly 6.4 million remaining shares (9.9%) to another partner. The estimated value of the deal ranges from 1.1 to 1.2 trillion VND, to be recognized in 2025-2026. The Ocean Vũng Tàu tourism project, covering over 19 hectares, is expected to receive a construction permit in January 2025 with total investment exceeding 10 trillion VND. Hodeco also plans a prosperous business for 2025 with a target revenue of 1.459 trillion VND and a profit after tax of 530 billion VND. Additionally, Hodeco recently established Hodeco – Tây Ninh Company with a charter capital of 200 billion VND to invest in industrial parks.
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