The purpose of this transation is to increase ownership in the Company. As being shared by Chairman - Mr Nguye...
The purpose of this transation is to increase ownership in the Company. As being shared by Chairman - Mr Nguyen Dang Thanh, this move to increase the ownership of business leaders is included in the plan of TTC Land (SCR).
Jamona City - One of the projects invested by TTC Land
Saigon Thuong Tin Real Estate JSC (TTC Land, SCR) has announced their plan to buy hares of the BOM and BODs with the amount of 5 million shares from March 20th to April 4th, 2020.
Among that, Mr Nguyen Dang Thanh - Chairman of TTC Land - expected to buy 1.5 million shares, the Vice Chairman - Mr Bui Tien Thang registered to buy more than 1.7 million shares, a member of the Board - Ms Tran Yen Duyen and the General Director - Mr Vu Quoc Thai registered to buy 150,000 shares and 3 million shares respectively.
In the market, under the pressure from the COVID-19 epidemic, SCR shares are falling to the pricing area of VND 4,100/ share, which is quite low compared to the current book value of the Company (approximately VND 13,000/ share), and the liquidity increases sharply.
Recently, the Company issued more than 27 million shares to pay dividends in 2018, at a ratio of 100:8. In 2019, TTC Land recored VND 347 billion of pre-tax profit. Profit after tax accordingly reached VND 288 billion, increasing 39%.
In the plan of 2020, TTC Land targets revenue of VND 1,871 billion increasing 79% with the main revenue coming from Carillon 7 project (in Tan Phu District) to be handed over from July 2020, and some other handover projects such as Jamona Home Resort, Jamona City, etc. Respectively, profit before tax is expected to reach VND 390 billion, 13% increased compared to 2019.
Source: CafeF