DIC Corp (DIG) has just achieved 2.1% of the yearly plan, increasing capital for the Vi Thanh project.

(CLO) Construction Development Investment Corporation - DIC Corp (Code: DIG) has just announced a change in the purpose of using capital from the offering of 200 million shares, focusing on the Vi Thanh project while only completing 2.1% of the plan.

Construction Development Investment Corporation - DIC Corp (Code: DIG) has just approved a plan to adjust the public offering of 200 million shares to existing shareholders at the same time from the second quarter of 2024 to the fourth quarter of 2024.

In addition, the amount of money expected to be mobilized up to 3,000 billion VND will have its usage plan changed. Of which, 1,135 billion VND will be used to invest in the Cap Saint Jacques Complex (CSJ) project, phase 2 and 3; 1,426 billion VND will be used to invest in the Vi Thanh project; the remaining 439 billion VND will be used to pay for bonds coded DIGH2124003 (due on November 26, 2024).

DIC Corp (DIG) has only completed 2.1% of the yearly plan, and is expected to adjust capital increase for the Vi Thanh project (Photo TL)

Thus, compared to the original plan, the Vi Thanh Commercial Residential Area project has increased investment by 461 billion VND from the mobilized capital of 3,000 billion VND.

Vi Thanh Commercial Residential Area Project is located in Ward 4, Vi Thanh City, Hau Giang Province with a scale of 83.46 hectares. Total investment capital is 5,649.27 billion VND and only 75.68 hectares of land has been cleared by the end of 2023.

Regarding business activities, in the first half of 2024, DIC Corp recorded revenue of VND 635.2 billion, an increase of 76.8% over the same period. Despite the high revenue increase, the company's profit after tax only reached VND 3.9 billion, a decrease of 95.5%.

The reason for the decline in profits comes from a loss in financial revenue of up to 82.5% compared to the same period, only 34.9 billion VND. Meanwhile, business management costs increased by 55.9%, accounting for 99.1 billion VND.

Compared to the 2024 business target of VND 2,300 billion in revenue and VND 1,010 billion in pre-tax profit, DIC Corp has only completed 2.1% of the yearly plan.

Source: https://www.congluan.vn/tang-huy-dong-von-cho-du-an-vi-thanh-dic-corp-dig-moi-hoan-thanh-21-ke-hoach-nam-post317354.html