Hoa Phat Group (HPG) has invested nearly VND 8,000 billion (approximately $320 million) in Song Hong Future Group, securing a 25.13% stake. It made the investment through a share swap, transferring more than 778 million shares in its subsidiary, Hoa Phat Real Estate Development JSC, rather than paying cash.
Song Hong Future Group is now an associated company of Hoa Phat. The transaction reduces Hoa Phat’s direct ownership in its real estate subsidiary to 26.55%.
The investment aligns Hoa Phat with Song Hong Future Group, a key player in large-scale urban development projects in Hanoi. The company is led by businessman Tran Dang Khoa, also known as Khoa 'Khan'.