GTD

Vinaconex (VCG) registered to acquire 2.2 million GTD shares from existing shareholders, raising its combined stake with related party An Quy Hung Holdings to 48.03% of footwear maker Giay Thuong Dinh (GTD). The move aligns with GTD's plan to redevelop its Hanoi factory site into a VND 9,907B mixed-use project, in which Vinaconex likely plays a key role.

GTD shareholders approved a VND 9,907 billion mixed-use project on prime land at 277 Nguyen Trai, Hanoi, and a strategic partnership with Vinaconex (VCG), which will acquire a 24.03% stake from existing shareholders. The project, funded 20% equity and 80% debt, includes residential, office, and school components. Vinaconex and related parties will hold 48.03% of GTD post-transaction.

Vinaconex (VCG) is acquiring a 24.03% stake in Giay Thuong Dinh (GTD) and subscribing to a private placement to reach 48% ownership. The move is driven by GTD's land at 277 Nguyen Trai, Hanoi, where a commercial housing project will be developed using VND 2,000B from the placement.

VCG plans to acquire a 24.03% stake in GTD from related parties and subscribe to a private placement of 216.5 million shares at 10,000 VND/share, potentially raising its total ownership to 48%. The deal values GTD's private placement at VND 2,165B, with proceeds funding a mixed-use project in Hanoi. The transaction involves related entities, including An Quy Hung Holding, which recently accumulated a 24% stake in GTD.

Giầy Thượng Đình (GTD) plans to relocate its factory and develop a VND 9,907B mixed-use complex on its 3.6-ha Hà Nội site, funded by 20% equity (VND 1,981B) and 80% debt (VND 7,925B). This pivot from footwear manufacturing to large-scale real estate development represents a major strategic shift for the company.