Kinh Bac Urban City set for $56m bond issuance

The State Securities Commission has granted Kinh Bac Urban City (KBC) a licence to issue bonds worth VND1.2 trillion (US$56.3 million).

The property developer earlier reported that in the third quarter of 2014, its revenues reached VND360 billion ($16.9 million) while its profits reached VND128.6 billion ($6 million).

The company reported a loss of VND58 billion ($2.7 million) during the same period last year. Land leasing at industrial zones have significantly contributed to its profits so far this year. KBC yesterday closed unchanged at VND16,700 per share.

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