According to a recent business plan of Thaiholdings Joint Stock Company (HNX: THD) recently announced, this business is planning to buy shares of Thaigroup Group Joint Stock Company (Thaigroup) – the owner. Real estate scale project series.
Buy 52.43% stake in Kim Lien Tourism Company
Specifically, Thaiholdings said it would buy a 52.43% stake in Kim Lien Tourism Joint Stock Company (Kim Lien Tourism), which owns the Kim Lien Hotel.
It is expected that in 2020, Kim Lien Tourism will deploy procedures to apply for a permit to build Kim Lien complex project on an area of over 3 hectares at 5-7 Dao Duy Anh, Phuong Mai, Dong Da, Hanoi.
Previously, in December 2015, Thaigroup of Mr. Nguyen Duc Thuy (elected Thuy) had spent about VND 1,000 billion to own a 52.4% stake in Kim Lien Hotel, equivalent to the price of 274,200 VND / share. .
By April 2018, the Global Petroleum Bank (GP Bank) sold 1.9 million shares at a price of VND 305,053 per share.
By the end of 2019, the company has a total of 356 shareholders and no foreign shareholders, small shareholders (less than 5%) only account for a total of 7.37% of the capital.
Thaigroup is still the parent company holding 52.43% through 3 representatives of capital; GP Bank is the founding shareholder and owns 9.69%; Ninh Binh Civil and Industrial Construction Consultant Company owns 6.62%; Post and Telecommunication Finance Company (PTFinance) holds 6.69%.
At the end of April 2019, Thaiholdings spent VND 365 billion to buy a 17.2% stake of Kim Lien Tourism from individual shareholders at the same purchase price of VND 305,100 / share.
Kim Lien Tourism Joint Stock Company – the owner of Kim Lien Hotel.
At the extraordinary general meeting of shareholders in early 2020, Kim Lien Tourism planned to increase the capital from VND 69.57 billion to VND 2,786 billion, to ensure the requirement of equity ratio is not lower than 20% of the total The investment for real estate project is implemented on the land of Kim Lien Hotel (estimated at 615.8 million USD, equivalent to 14,287 billion VND).
However, according to the resolution of the Annual General Meeting of Shareholders announced in May, Kim Lien Tourism agreed not to increase its charter capital to ensure reciprocal capital for the implementation of this project.
“Through the process of researching and researching and reviewing the opinions of shareholders, the Board of Directors found that raising the charter capital at the present time is not feasible,” wrote the report to Kim Lien Tourism.
Also according to the resolution, the meeting dismissed the title of Chairman and member of the Board of Directors for Mr. Nguyen Duc Thuy upon resignation, and dismissed Mr. Nguyen Chi Kien from the Board member.
Instead, Thaigroup nominated two candidates for the Board of Directors and was approved by Mr. Phan Manh Hung (born in 1978) and Mr. Trinh Van Thiem (born in 1978). Mr. Thiem is currently the General Director of Binh Minh Group – a major shareholder holding 11% at Kim Lien Tourism and also replacing Thuy elected to become Chairman of the Board of Directors.
Buy 80.45% stake of Hanoi Ton Dan Company
In addition to the plan to buy 52.43% of Kim Lien Tourism Company, Thaiholdings will also buy 80.45% of the shares of Ton Dan Ha Hoi Joint Stock Company – which owns the office building and leasing class. A at 210 Tran Quang Khai (17 Tong Dan), Trang Tien Ward, Hoan Kiem, Hanoi.
This building has been in operation since 2019 with an area of over 1,500m2, including 21 floors and 3 basements. This place is rated by prestigious organizations on real estate for rent as a highlight of the room for rent in the central area of Hanoi.
It is known that in March 2019, Thaiholdings spent VND284 billion, completing the purchase of 14.2 million shares of Hanoi Ton Duc Joint Stock Company (the transfer price of VND 20,000 / share) from Thaigroup.
Thereby, Thaiholdings holds 19.52% of the shares of Hanoi Sun Corporation.
The project of office building and leasing at No. 17 Tong Dan, with a total investment of over VND 1,000 billion, is implemented by Him Lam Joint Stock Company (Him Lam Group) in cooperation with Northern Food Company. After that, this project was transferred to Him Lam Hanoi Joint Stock Company by Him Lam.
Buy 98% shares of Enclave Phu Quoc Company
Thaiholdings also plans to buy 98% shares of Enclave Phu Quoc Joint Stock Company – the owner of the Enclave Phu Quoc project with the largest area in Phu Quoc.
Perspective of Enclave Phu Quoc project.
Investment scale of this project is up to nearly VND 10,000 billion. Currently, the company is also conducting the procedures of site clearance compensation and project construction permit.
Thaiholdings was founded in 2011, formerly known as Kinh Thanh Development Investment Joint Stock Company, registered its head office at Thaiholdings Tower building at 17 Tong Dan Street, Hoan Kiem District, Hanoi.
This enterprise became a public company in early 2020, however, its ambition after being publicized is to list on the HoSE stock exchange soon. This policy has been approved by shareholders, and the company has also registered the THD stock code from January 2020.
On June 19, Thaiholdings listed all 53.9 million shares on the HNX with the stock code THD.
On June 22, the Thaiholdings Board approved the plan to buy shares of Thaigroup. Specifically, the expected number is 165 million shares, equivalent to 66% of Thaigroup’s charter capital.
The expected purchase price does not exceed VND 20,000 / share, respectively, the total expected investment value is about VND 3,300 billion. The transferor is the shareholder of Thaigroup.
Thaigroup was originally Thaiholdings’ parent company, before divesting some time ago.