CRV Real Estate Set for Stock Exchange Debut with Ambitious 2025-2026 Targets
CRV Real Estate Group JSC, a key entity of Hoang Huy Group, is set to debut on the Ho Chi Minh Stock Exchange on October 10, with a reference price of VND26,000 ($0.99) per share. The company aims high with ambitious targets for 2025 and 2026, following a restructuring that saw Hoang Huy Investment Services JSC (HHS) acquire a controlling stake.
CRV's shares will debut with a ±20% price fluctuation band, giving it a market capitalization of nearly VND17,472 billion ($662.19 million) at the reference price. The company has set a revenue target of VND4,000 billion ($151.6 million) and post-tax profit of VND1,600 billion ($60.64 million) for 2025, marking an 82% and 250% increase respectively from last year. Looking ahead, CRV plans to raise its targets to VND5,000 billion ($189.5 million) in revenue and VND2,000 billion ($75.8 million) in profit after tax by 2026.
CRV's primary operation is in the real estate sector, with its largest project being the Hoang Huy New City-II in Thuy Nguyen ward, Hai Phong city, spanning 49.4 hectares with an investment of over VND15,000 billion ($568.5 million). The restructuring into a parent-subsidiary holdings model has enabled Hoang Huy Group to optimize its system, cut costs, and deliver balanced benefits to all shareholders. HHS, which acquired a 51% stake in CRV on June 18, has already seen its Q2 net profit surge to VND3,506 billion ($132.88 million), a 34-fold increase from the same period last year. The acquisition is expected to significantly benefit both HHS and Hoang Huy Financial Services Investment JSC (TCH) due to CRV's projected strong and steady business growth.
CRV Real Estate Group JSC's listing on the Ho Chi Minh Stock Exchange on October 10 marks a significant step in its growth journey. With ambitious targets for the coming years and a successful restructuring, the company is poised for robust growth, benefiting both itself and its shareholders.
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