On May 7, 2025, Mr. Phạm Thu, Chairman of Saigon Real Estate Corporation (SGR), announced that he had purchased nearly 9.9 million shares in a private placement to increase his ownership from 29.94% to 39.84% of charter capital. The share price for the placement was set at 40,000 VND/share, costing him approximately 395 billion VND. The current market price of SGR shares is 25,500 VND/share, with a market capitalization of over 1,500 billion VND. Mr. Thu was the only investor to register to buy 20 million shares, accounting for 49.4% of the registered amount; the rest will be canceled due to non-payment. He explained the limited purchase was due to an unstable stock market. According to the Q1 2025 consolidated financial report, Saigonres recorded nearly 23.5 billion VND in revenue, a net profit of 18.9 billion VND, achieving 5.9% of the annual profit target of 320 billion VND. SGR plans to issue 20 million shares to raise 800 billion VND for the Viet Xanh ecological urban area project and debt repayment.
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