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At the beginning of March this year, PC1 Group Joint Stock Company (HOSE: PC1) decided to terminate its investment in CT2 Real Estate Investment JSC. In an update released in mid-April, the company said the liquidation of the investment has been completed.
PC1 reported that the disposal of its investment in CT2 Real Estate has been completed. The investment was made in 2020 with an original value of VND 300 billion, equivalent to 30 million shares, representing 49% of CT2 Real Estate’s charter capital (which is stated as over VND 612 billion).
CT2 Real Estate Investment JSC was established in 2016 at Capital Tower, 109 Tran Hung Dao, Hoan Kiem District, Hanoi, with real estate as its main business. At establishment, its charter capital was VND 264 billion. Three founding shareholders included CTCP Đầu tư HimlamBC contributing 88%, Mr. Tran Luong Dung contributing 8%, and Mr. Than Hai Duong contributing 5%.
In December 2023, the company increased its charter capital to VND 564 billion, with no disclosed ownership structure. Mr. Tran Luong Dung has served as legal representative and Chief Executive Officer since the company’s establishment. Business registration data cited in the article indicates the charter capital had not changed as of 29 April 2026.
CTCP Đầu tư HimlamBC was formed by CTCP Him Lam in 2010 with 23 individual shareholders. By 2017, Him Lam had transferred all of its stake. Among the 23 individual shareholders, Mr. Tran Luong Dung (CEO and legal representative) held the largest stake at 16.543% of the VND 600 billion charter capital, followed by Ms. Dao Minh Hue at 5.073% and Ms. Nguyen Thi Thu Ha at 3.644%. At the end of 2023, the company was renamed CTCP Đầu tư Lương Hòa Tiến.
In 2014, HimlamBC invested together with foreign investor Haseko (Japan) to form Haseko HimlamBC LLC, with 5% and 95% ownership of the total VND 252 billion charter capital, respectively.
The entity was created to develop the CT2 high-rise housing project within The Keish development, with CT2 Real Estate acting as the project investor. The Keish project has total investment of VND 1,450 billion, land area of 4,271 m2, building density of 40%, and includes an 18-storey apartment building with 280 units. The project is located on Co Linh Street, Long Bien, Hanoi.
The project is marketed as having a view of a golf course, with the Long Bien golf course (owned by CT2’s Long Bien investor) described as being about 1 minute away.
Following the period around mid-April, PC1’s stock began to decline, falling from just over VND 27,000 per share to below VND 20,000 per share (closing price on 29/04). The article states this represented a drop of nearly 30% over about 10 sessions.
On the day referenced, PC1 recorded record trading demand, with nearly 41.9 million shares matched, equivalent to over VND 820 billion.
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