Vietnam-Based HP.ITA JSC Merges With HP.ITA Corporation to Go Public in the U.S. Stock Market
Existing Shareholders of HP.ITA JSC Who Have Invested VN 1,866 Billion (Approximately US$ 89.7 Million) Will Receive Newly Issued Shares of HP.ITA Corporation
(firmenpresse) - LOS ANGELES, CA and HANOI, VIETNAM -- (Marketwire) -- 08/15/12 -- HP.ITA Corporation, a Nevada corporation, announced today that the Company has signed a definitive agreement to acquire 100% of Vietnam-based HP.ITA Joint Stock Company, a wholly owned subsidiary of Phanet Holding Corp., and will file a registration statement with the Securities and Exchange Commission following the completion of the financial audits of the combined company to become publicly traded in the U.S.
According to HP.ITA JSC management, this company has invested VND 1,866 Billion (approximately US$ 89.7 Million) in the Bao An Project consisting of three residential and commercial towers with 17, 38 and 40 stories at An Khanh Industrial Complex, Hoai Duc District and the Xuan Phuong Nursing Center and Villa Project in Tu Liem District, both in Ha Noi, Vietnam. Existing shareholders of HP.ITA JSC will receive newly issued shares of common stock of HP.ITA Corporation in exchange for their shares in HP.ITA JSC.
Richard Phan, Chairman and CEO of Phanet Holding Corp., the parent of HP.ITA JSC, commented: " We are glad to have signed the corporate combination agreement between the two companies and will proceed with the required filings to take HP.ITA Corporation public in the U.S.. We believe this will create additional value and enhance liquidity for our shareholders as well as making it easier for investors to participate in our growth."
HP.ITA Corporation, a Nevada corporation established in 2004, will serve as a holding company for real estate investments in Vietnam, including the Bao An Tower Project and the Xuan Phuong Nursing Center and Villa Project in Ha Noi, Vietnam. Website:
Phanet Holding Corp. is one of the first Vietnamese global angel and capital investor groups. HP.ITA JSC, a wholly owned subsidiary of Phanet Holding Corp., is a Vietnamese company engaged in real estate development. Website:
PHI Capital Holdings, Inc., a subsidiary of PHI Group, Inc. (OTCQB: PHIL) (PINKSHEETS: PHIL), is engaged in M&A advisory and consulting services.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties. Such forward-looking statements are based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected, on the basis of such forward-looking statements.
Richard Phan
Tel: +1-646-929-4009
Email:
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 15.08.2012 - 12:30 Uhr
Sprache: Deutsch
News-ID 174842
Anzahl Zeichen: 0
contact information:
Town:
LOS ANGELES, CA and HANOI, VIETNAM
Kategorie:
Alternative Energy
Diese Pressemitteilung wurde bisher 393 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Vietnam-Based HP.ITA JSC Merges With HP.ITA Corporation to Go Public in the U.S. Stock Market"
steht unter der journalistisch-redaktionellen Verantwortung von
PHI Capital Holdings, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
